February 4, 2025Advisory Notice A25-005
Introduction of CRA Double Butterflies
The Montréal Exchange is pleased to inform its participants that Three-Month CORRA Futures (CRA) Double Butterfly Strategies are now available for trading. Listings will begin with all overlapping three (3) month butterfly strategies. Implied orders will be disseminated into the strategy order book. The effective date will be February 5th, 2025.
The following is an example of how double butterflies will be constructed
CRA Strategy | Contracts | Symbol |
|---|---|---|
| Strategy Combinations | ||
| Buy CRA March 2025 3 Month Butterfly | Buy 1 CRAH25 Sell 2 CRAM25 Buy 1 CRAU25 |
CRA+H5-2M5+U5 |
| Sell CRA June 2025 3 Month Butterfly | Sell 1 CRAM25 Buy 2 CRAU25 Sell 1 CRAZ25 |
CRA+M5-2U5+Z5 |
| Result | ||
| CRA March 9 Month Double Butterfly | Buy 1 CRAH25 Sell 3 CRAM25 Buy 3 CRAU25 Sell 1 CRAZ25 |
CRA+H5-3M5+3U5-Z5 |
For additional information on this notice please contact the Market Operations Department.
Market Operations
Toll-free: 1-888-693-6366
Local: 514-871-7871
Email: monitoring@tmx.com