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Montréal Exchange and Oxen to offer energy clearing

The Canadian Derivatives Clearing Corporation (CDCC) - a wholly owned subsidiary of the Montréal Exchange (MX) - and the Alberta Watt Exchange, an Alberta-based energy exchange wholly owned by digital commodity exchange operator Oxen, are to provide clearing services for energy forward transactions.

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As part of the deal, MX will also become a shareholder of Oxen. The transaction is subject to regulatory approvals and other customary conditions of closing, MX said in a statement.

"The industry in Canada will benefit from a scalable, secure, multilateral platform for the clearing of energy derivative contracts," said Luc Bertrand, MX president and chief executive. "The Montréal Exchange brings to the energy market its established derivatives clearing capabilities. The new clearing service

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