Industry

COMBINATION OF TSX GROUP INC.
AND BOURSE DE MONTRÉAL INC.

AMENDED EXEMPTION ORDER
FOR BOURSE DE MONTRÉAL



TSX Group Inc. (“TSX Group”) and Bourse de Montréal Inc. (“Bourse”) combined their organizations resulting in the Bourse becoming a direct subsidiary of TSX Group (“Transaction”), effective May 1, 2008.

The Commission recognizes both TSX Group and TSX Inc. as an exchange. On February 8, 2008, the Commission published TSX Group’s submission that no changes were necessary to TSX Group and TSX Inc.’s current recognition order (“TSX recognition order”) as a result of the Transaction. No comments were received.

The Commission exempts the Bourse from the requirement to be recognized as an exchange in Ontario. As a result of the Transaction, the Autorité des marchés financiers (AMF) issued an amended recognition order for the Bourse dated April 10, 2008, effective May 1, 2008. On April 30, 2008, effective May 1, 2008, the Commission approved an amended exemption order for the Bourse (Bourse exemption order). The amended AMF recognition order of the Bourse is attached as a schedule to the Bourse exemption order. Please note that an English translation (unofficial version) of the AMF recognition order of the Bourse is available on our website at: www.osc.gov.on.ca.

The Bourse exemption order is being published in Chapter 2 of this bulletin.