In an effort to drive derivatives trading activity, the Bourse de Montréal Inc. (MX) is renewing its proprietary trading incentive program.
The derivatives exchange announced that it has renewed its program that supports trading firms in recruiting and training new traders to deal in listed futures contracts.
The Futures Québec Proprietary Trading Firms Incentive Program provides firms with monthly incentives, trading and clearing fee waivers, and added payouts for hitting volume targets.
The exchange said the program will run for three years, from Sept. 8, 2020 to Sept. 7, 2023.
Applications to the program are due Sept. 4.
The MX said that it will “consider a firm’s proprietary activities and its reputation, financial resources, business plan and training program” in evaluating applications.