December 1, 2022Advisory Notice A22-017

Modification to the last trading day of the Three-Month Canadian Bankers’ Acceptance Futures (BAX)

Pursuant to Circular 154-22, the Montréal Exchange wishes to inform its market participants that the modification to the last trading day of the Three-Month Canadian Bankers' Acceptance Futures ("BAX") contracts expiring after June 2024 will become effective on December 19, 2022, after market close.

The BAX expiry for post-June 2024 contracts will shift from the third Monday of the contract month to the third Wednesday of the contract month, an adjustment that will align the exposure period with that of equivalent Three-Month CORRA Futures ("CRA") contracts. Details can be found in Circular 154-22.

A summary of the BAX expiry adjustment that will take place as of the aforementioned effective date (for currently listed contracts) is provided in the table below.

Contracts impacted (currently listed)	Current Expiry (last trading day)	New Expiry (last trading day)
BAXU24	September 16, 2024	September 18, 2024
BAXZ24	December 16, 2024	December 18, 2024
BAXH25	March 17, 2025	March 19, 2025
BAXM25	June 16, 2025	June 18, 2025
BAXU25	September 15, 2025	September 17, 2025

As of the applicable effective date, all new BAX contracts listed will follow the updated contract specification. Please note that for all BAX contracts, trading ceases at 10:15 am (ET) on the last trading day, including expiries (above) for which the last trading day is changing.

For additional information on this notice, or if you require technical assistance, please do not hesitate to contact us at the below coordinates.

Regards,

Market Operations Department

Toll-free: 1-888-693-6366

Local: 514-871-7871

Email: Monitoring@tmx.com

The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules of Bourse de Montreal Inc. ("Rules of the Bourse"). While Bourse de Montreal Inc. endeavors to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the Rules of the Bourse, the latter shall prevail. The Rules of the Bourse must be consulted in all cases concerning product's specifications.