Mr. Speaker, I was a bit surprised to hear the speech by the Parliamentary Secretary to the Minister of the Environment, particularly towards the end when he said that there could be other carbon exchanges in Canada.
Today, we were expecting the government to recognize the important role that the Montreal Stock Exchange plays with regard to derivatives.
Here is what Luc Bertrand said to the International Finance Club of Montreal on April 21, 2005:
It will not come as a shock to any of you if I tell you today that we have no intention of letting anyone take our place. We have no intention of giving up and letting go wherever it may be the expertise, the know-how and the leadership that Montreal and the province of Quebec have acquired in the area of derivatives. Since 1999, the Montreal Stock Exchange has clearly proven that it is in a better position than anyone else in Canada to serve and develop the derivatives market.
We would have expected the government to tell us that indeed Montreal had a good project and that it was an authority in this area under the 1999 agreement. We would like the government to recognize that this agreement signed with the Chicago Stock Exchange puts Montreal and the Montreal Stock Exchange in a better position than any other stock exchange in Canada.
Can the government and the Parliamentary Secretary to the Minister of the Environment recognize that Montreal is best suited to be the home of the climate market in Canada?