Glennn Goucher

Glennn Goucher
Senior Vice-President, Financial Markets
Montréal Exchange >

Mr. Glennn Goucher joined the Montréal Exchange in November 2001 and is acting as Senior Vice-President, Financial Markets. In this capacity, Mr. Goucher is responsible for market operations, business development and marketing activities for the Exchange in multiple market segments including product development, data and training.

Before joining the Exchange, Mr. Goucher held different responsibilities with a major Canadian investment dealer, including Director for equity derivative marketing and Manager of exchange traded derivatives. He played an active role as Portfolio Manager for a major Canadian Pension Fund, responsible for the day-to-day management of several bond portfolios as well as overseeing the implementation of G7 equity and fixed income derivative strategies. He has also lectured undergraduate finance and business policy courses on a part time basis.

Mr. Goucher has been a Chartered Financial Analyst since 1997, and holds both an MBA and a BSc Eng. from the University of New Brunswick.

Glennn Goucher has moved from Scotia Capital, where he was director of sales and marketing, equity derivatives, to Bourse de Montréal where he is vice-president of sales and marketing.

Glenn Goucher, Montreal Exchange

Find on Wednesday-Night W-N Glenn Goucher Hits | Wikipedia | search | CP | clusty | bio | fastsearch | Slides | flickr | bio | MX | Stk news

2008

Wednesday Feb 13, 2008 Caisse endorses takeover of ME

2007

Friday 30 November 2007 TORONTO: EXCHANGES RENEW MERGER TALKS
The TSX Group Inc. and Montreal Exchange Inc. say they're again engaged in negotiations on a merger. The parties say, however, that there's no guarantee a transaction will emerge and that there will be no more comment until "the situation warrants." Previous talks broke off last summer. TSX Group controls virtually all of the country's stock market trading, while MX specializes in derivatives such as futures and options. The two sides have a 10-year agreement that expires in March 2009 that TSX Group operates the country's only cash stock trading site, while MX enjoys exclusivity in derivatives. TSX head Richard Nesbitt has pledged to become involved in derivatives when the agreement expires.

Friday Nov 30, 2007 TSX, ME merger talks are back on
The Montreal Exchange and TSX Group Inc. are again talking marriage after a long and stormy courtship.
...Shares in the ME soared after the two exchanges announced yesterday they have restarted merger talks. ME shares rocketed $6.35, or 22 per cent, to $35.55. TSX shares rose $2.90, or 5.8 per cent, to $53.
Analysts speculated the TSX may be willing to offer $40 a share for the ME, but also held out the possibility of larger U.S. exchanges sparking a bidding war for the 133-year-old exchange, Canada's sole derivatives market.

National Post - Wednesday, Nov. 28, 2007Analyst 'losing patience' with Montreal Exchange
... Analyst 'losing patience' with Montreal Exchange. Sean Silcoff,
...

Tuesday Nov 27, 2007 TSX still on track to launch its own derivatives exchange
TSX Group Inc. is plowing ahead with plans to launch its own derivatives exchange to compete with the Montreal Exchange ...

Emissions trading Lightly carbonated Monday 06 August 2007

Sunday 29 July 2007ME fires up carbon futures launch
With Chicago climate exchange
Demand growing for green derivatives
The Montreal Exchange yesterday gave the long-awaited green light to the launch of a carbon futures contract in partnership with the Chicago Climate Exchange, confident it can lock on to growing demand for environmental derivative products.
"The new publicly traded product will be the first of its kind in Canada and will be a very useful vehicle to help large emitters to comply with new CO2 emission rules," ME CEO Luc Bertrand said. Trading should start by yearend.

Thursday 15 February 2007 Nymex looks to snap up 10% of Montreal Exchange: report
Two exchanges would form a joint venture that would result in energy future contracts being launched in Calgary, says New York Post
,,,Shares in Nymex Holdings Inc. were up $2.41, or 1.91 per cent, to $128.38 (U.S.) on the New York Stock Exchange in early afternoon trading on Wednesday.

Nymex, ME plan Calgary venture
Predictions the Montreal Exchange could be worth a cool $1 billion on the stock market weren't looking far-fetched yesterday...

The ME also set the stage for its public listing yesterday by releasing stellar financial results for 2006. Net earnings jumped 64 per cent to $24.8 million while revenue grew 25 per cent to $79.3 million. Trading volume was up 41 per cent.

The ME said it plans to list its shares, after a 3-for-1 split, on the Toronto Stock Exchange. But that was the only good news in yesterday's announcement for TSX Group Inc., parent of the TSX. Its shares were down $2.32 yesterday, or 4.5 per cent, closing at $49.72 after news of the ME-Nymex alliance.

The new joint venture will compete directly in Calgary with the Natural Gas Exchange, purchased by the TSX in 2004. Energy trading revenue represented 13 per cent of the TSX's total revenue last year.

More significantly, analysts said the partnership between the ME and Nymex drives a stake through the TSX's long-held ambition to acquire its smaller Montreal rival.

"The bigger issue is that the TSX and the ME can't seem to get together and make a partnership," said CIBC World Markets analyst Stephen Boland. "The ME wouldn't have done this if it wanted a deal."

The TSX is anxious to get into the lucrative and fast-growing derivatives business. Boland said the company will now look to purchase a secondary U.S. derivatives exchange, raising the spectre of competing options-and-futures markets in Canada as of 2009.

The TSX has an agreement with the ME not to compete in derivatives markets before 2009 - part of a deal that saw the ME give up its stock listings in return for becoming Canada's sole derivatives exchange in 1999.

...Shares in derivatives exchanges are one of the hottest corners of stock markets amid rapid consolidation in the industry. Nymex's initial public offering in November is a prime example. The exchange's shares, IPO priced at $59 each, finished their first day of trading at $132.99

In private transactions as late as December, ME shares were trading at $60 apiece, up from $17 in June 2005.

Under the bylaws of the exchange, no single shareholder can own more than 10 per cent of the shares. Any change in that rule would require the approval of Quebec's securities regulator, effectively giving the Quebec government a veto over any takeover of the ME.

Schaeffer, whose Nymex has a market cap of more than $11 billion U.S., declined to comment when asked whether his exchange would be interested in buying a bigger piece of the ME if it could. Schaeffer will join the ME's board as part of the Nymex's equity investment.

Details of the Nymex's private placement in the ME, including the price, will be disclosed in a prospectus for the exchange's stock listing that's expected to be filed with regulators in the next few days.

Thursday 15 February 2007 Carbon trading would hit 40% of TSX: report
Companies representing 40 per cent of the Toronto Stock Exchange's total market capitalization would be directly affected by a legislated system of greenhouse gas (GHG) emissions caps and trading, and that impact will be negative for most of them, a new report from CIBC World Markets says.