February 18, 2025Advisory Notice A25-007

Listing of Options on Canadian Depositary Receipts (CDRs)

Further to Circular ABC-25, Bourse de Montréal Inc. (the "Bourse") hereby informs its participants that options on Canadian Depositary Receipts (CDRs) will be listed at the opening of trading at 9:30 am (ET) on Monday, March 3, 2025. The new contract specifications can be found below.

The list of the underlying CDRs and the respective options on CDRs symbols that will be listed is as follows:

Underlying CDR Name	Option Symbol	Underlying Symbol on the Toronto Stock Exchange (TSX)
Advanced Micro Devices CDR	AMD	AMD
Alphabet CDR	GOOG	GOOG
Amazon.com CDR	AMZN	AMZN
Apple CDR	AAPL	AAPL
Berkshire Hathaway CDR	BRK	BRK
Costco CDR	COST	COST
Meta CDR	META	META
Microsoft CDR	MSFT	MSFT
Nvidia CDR	NVDA	NVDA
Tesla CDR	TSLA	TSLA

The aforementioned options contracts will be added to the High Speed Vendor Feed (HSVF) and Order Book Feed (OBF) using the current messaging protocol.

Information on the new contracts will be made available at www.m-x.ca on the first trading day.

General Test Environment (GTE)

The options on CDRs are available for testing in the GTE environment since February 10, 2025 under the following symbols:

Underlying CDR Name	GTE Option Symbol
Advanced Micro Devices CDR	AMD
Alphabet CDR	GOOG
Amazon.com CDR	AMZN
Apple CDR	AAPL
Berkshire Hathaway CDR	BRK
Costco CDR	COST
Meta CDR	META
Microsoft CDR	MSFT
Nvidia CDR	NVDA
Tesla CDR	TSLA

Contract Specifications

Underlying	Eligible Canadian Depositary Receipts (CDRs), subject to criteria set by the Clearing Corporation
Ticker / symbol	Identical to the symbol of the corresponding eligible CDR, or as indicated on the website of the Bourse from time to time.
Trading unit	The trading unit is one contract, representing 100 shares of the underlying equity security
Minimum fluctuation of the option premium (tick / increment)	(a) For CDR Options excluded from the penny trading program: Option Series priced below $0.50 are quoted in increments of $0.01. Option Series priced at $0.50 or more are quoted in increments of $0.05. (b) For CDR Options included in the penny trading program: Option Series priced below $3.00 are quoted in increments of $0.01. Option Series priced at $3.00 or more are quoted in increments of $0.05.
Expiry cycle	Monthly expiries: At a minimum, the nearest four consecutive months plus the next four months in the designated quarterly Cycle: March, June, September and December. The Bourse may list expiries over a period of two years and an annual expiry in January under such expiry Cycle. Weekly expiries: the expiration date shall be any of the five Fridays following the listing week which is a business day, but which is not an expiration day for any other Options already listed on the same underlying. If any such Friday is not a business day, then the expiration date will be the first preceding business day that is not an expiration day for any other Options already listed on the same Underlying Interest. Long term expiries: annual expiry of January for long term options.
Strike prices	At a minimum, five strike prices bracketing the current underlying issue's market price.
Contract type	American style (physically settled)
Last trading day	For monthly expiries: trading ceases on the third Friday of the Delivery Month, provided it is a business day. If it is not a business day, trading will cease on the first preceding business day. For weekly expiries: trading ceases on the Friday following the contract listing week, provided it is a business day. If it is not a business day, trading will cease on the first preceding business day.
Expiration day	Expiration day is equal to the last trading day.
Position reporting threshold	250 contracts
Position limit	As specified in Article 6.309 A) of the Rules: information can be obtained from the Regulatory Division as they are subject to periodic changes. See the position limits page on the Regulatory Division website.
Delivery	Via the CDS Clearing and Depository Services Inc., on the first business day following the exercise date.
Trading hours	Regular session: 9:30 a.m to 4:00 p.m ET
Clearing corporation	Canadian Derivatives Clearing Corporation (CDCC)

If you require technical assistance, please contact the Market Operations Department.

Regards,

Market Operations

Toll-free: 1-888-693-6366

Local: 514-871-7877

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.