We work on several levels.
First, we talk to Montreal and Quebec companies about the benefits of trading in RMB.
Second, we work with financial institutions to ensure that they can use the opportunity to provide RMB-denominated products. They are currently looking into that with colleagues from Toronto, among others, and giving thought to various types of products and ways to make them available.
Third, as I already mentioned, we are trying to determine whether developing derivatives could be more of a long-term opportunity.
Finally, we work with portfolio managers to see whether they could potentially provide RMB-denominated products to Chinese clients, be they institutions or individuals. A number of portfolio managers in Montreal are already managing money for a Chinese pension fund. In that context, we are looking into potentially complementing the product range.
We work with companies, financial institutions and portfolio managers. We will eventually also be working with types of derivatives.