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Back-office - Options Technologie Réglementation

CIRCULAR 037-18 March 14, 2018 POSITION LIMITS STOCK AND TRUST UNIT OPTIONS EXCHANGE TRADED FUND UNIT OPTIONS SECTOR INDEX OPTIONS INDEX OPTIONS CURRENCY OPTIONS Please be advised that the position limits for all stock and trust unit options, exchange traded fund unit options, sector index options, index options and currency options listed at Bourse de Montréal Inc. (the Bourse) are outlined in the attached list. These position limits are applicable to the aggregated option positions on the same side of the market relating to the same underlying interest (whether long or short) in accordance to article 6651 of the Rules of the Bourse. These new limits are effective as of the open of the next business day. Position limits for stock and trust unit options and Exchange Traded Fund unit options are established and published on a quarterly basis by the Bourse based on the number of shares or units outstanding and the most recent six-month trading volume of the underlying security, in accordance with article 6651 of the Rules of the Bourse. It is important to note that for any account, subparagraph D) 2 of article 6651 of the Rules of the Bourse allows to hold, for each class of options, an additional quantity of contracts not exceeding the position limit established by the Bourse for this class when such account holds either one of the hedge positions defined in subparagraphs D) 1.a) to D) 1.d) of this article. This effectively means that when options contracts are used for hedging purposes, position limits are doubled. Although it is not necessary to ask for any authorization from the Bourse to take advantage of this provision, approved participants and their clients who decide to use it must be able, upon request, to demonstrate their hedge position to the Bourse. For cases where the above-mentioned increased position limit is insufficient or where the combination used for hedging purposes is different from those that are defined in the above-mentioned subparagraphs, approved participants and their clients can take advantage of the provisions of paragraph E) of article 6651 of the Rules and of Policy C-1 of the Bourse in order to ask, on behalf of a bona fide hedger, for an exemption from the position limits set by the Bourse.

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 2

It must also be noted that article 6653 of the Rules of the Bourse provides that position limits can be adjusted following a stock split or a share consolidation of the securities underlying an option contract. In accordance with article 14102 of the Rules of the Bourse, we remind you that each approved participant must file daily with the Bourse, in the prescribed manner, no later than 9:00 a.m. (ET) on the business day following the one for which the positions must be reported, a report detailing all gross positions held for its own account or for an account or group of accounts which are all owned by the same beneficial owner in derivative instruments listed on the Bourse when these gross positions exceed the reporting thresholds prescribed by the Bourse. As per article 14102 sub-article 6) paragraph A all approved participants must report positions in excess of 250 contracts in the case of stock and trust unit options, 500 contracts in the case of Exchange Traded Fund unit options and currency options, 15,000 contracts in the case of index options and 1,000 contracts in the case of sector index options. Please note that an MS Excel version of this circular is available in the LOPR section of the Regulatory Division of the Bourse website http://reg.m-x.ca/en/regulatory/lopr/. For further information, please contact the Regulatory Division, at 514 787-6530, or by e-mail at [email protected].

Julie Rochette Vice-President and Chief Regulatory Officer

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 3

POSITION LIMITS - STOCK AND TRUST UNIT OPTIONS March 2018 Option symbol

Underlying symbol

Company Name

Position Limit

AAR AAV ABX AC ACB ACO ACQ AD AEM AGF AGI AGU1 AIF AIM ALA AP APH AQN AR ARE ARX ASR ATA ATD ATP ATZ AVO AX BAD BAM BAM4 BBD BB BCB BCE BEI BEP BIP BIR BLDP

AAR.UN AAV ABX AC ACB ACO.X ACQ AD AEM AGF.B AGI AGU AIF AIM ALA AP.UN APH AQN AR ARE ARX ASR ATA ATD.B ATP ATZ AVO AX.UN BAD BAM.A BAM.A BBD.B BB BCB BCE BEI.UN BEP.UN BIP.UN BIR BLDP

Pure Industrial Real Estate Trust Advantage Oil & Gas Ltd. Barrick Gold Corporation Air Canada Aurora Cannabis Inc. ATCO Ltd. AutoCanada Inc. Alaris Royalty Corp. Agnico Eagle Mines Ltd. AGF Management Ltd. Alamos Gold Inc. Agrium Inc. Altus Group Limited Group Aeroplan Inc. AltaGas Ltd. Allied Properties Real Estate Investment Trust Aphria Inc. Algonquin Power & Utilities Corp. Argonaut Gold Inc. Aecon Group Inc. ARC Resouirces Ltd. Alacer Gold Corp. ATS Automation Tooling Systems Inc. Alimentation Couche-Tard Inc. Atlantic Power Corporation Aritzia Inc. Avigilon Corporation Artis Real Estate Investment Trust Badger Daylighting Ltd. Brookfield Asset Management Brookfield Asset Management Bombardier Inc. BlackBerry Ltd. Cott Corporation BCE Inc. Boardwalk Real Estate Investment Trust Brookfield Renewable Energy Partners L.P. Brookfield Infrastructure Partner L.P. Birchcliff Energy Ltd. Ballard Power Systems Inc.

250,000 250,000 250,000 250,000 250,000 50,000 25,000 50,000 250,000 50,000 250,000 75,000 25,000 250,000 250,000 50,000 250,000 250,000 250,000 250,000 250,000 250,000 50,000 250,000 50,000 50,000 75,000 75,000 50,000 250,000 250,000 250,000 250,000 75,000 250,000 50,000 75,000 200,000 250,000 250,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 4

Option symbol

Underlying symbol

Company Name

Position Limit

BLX BMO BNP BNS BPY BTE BTO CAE CAR CAS CCA CCL CCO CEU CF CFP CFW CG CGX CHE CHR CIGI CIX CJ CJR CLS CM CNL CNQ CNR CP CPG CPX CR CRR CSH CTC CU CUF CVE CWB D DC DGC DHX

BLX BMO BNP BNS BPY.UN BTE BTO CAE CAR.UN CAS CCA CCL.B CCO CEU CF CFP CFW CG CGX CHE.UN CHR CIGI CIX CJ CJR.B CLS CM CNL CNQ CNR CP CPG CPX CR CRR.UN CSH.UN CTC.A CU CUF.UN CVE CWB D.UN DC.A DGC DHX.B

Boralex Inc. Class A Shares Bank of Montreal Bonavista Energy Corporation Bank of Nova Scotia Brookfield Property Partners L.P. Baytex Energy Corp. B2Gold Corp. CAE Inc. Canadian Appartment Properties Real Est Cascades Inc. Cogeco Communications Inc. CCL Industries Inc. Cameco Corporation CES Energy Solutions Corp. Canaccord Genuity Group lnc. Canfor Corporation Calfrac Well Services Ltd. Centerra Gold Inc. Cineplex Inc. Chemtrade Logistics Income Fund Chorus Aviation Inc. Colliers International Group Inc. Subordinate Voting CI Financial Corp. Cardinal Energy Ltd CORUS Entertainment Inc. Celestica Inc. Canadian Imperial Bank of Commerce Continental Gold Limited Canadian Natural Resources Limited Canadian National Railway Company Canadian Pacific Railway Limited Crescent Point Energy Corp. Capital Power Corporation Crew Energy Inc. Crombie Real Estate Investment Trust Chartwell Retirement Residences Canadian Tire Corporation, Limited Canadian Utilities Limited Cominar Real Estate Investment Trust Cenovus Energy Inc. Canadian Western Bank Dundee Real Estate Investment Trust Dundee Corporation Detour Gold Corp. DHX Media Ltd

50,000 250,000 250,000 250,000 75,000 250,000 250,000 250,000 75,000 75,000 25,000 75,000 250,000 250,000 50,000 75,000 250,000 250,000 75,000 50,000 200,000 25,000 250,000 250,000 250,000 75,000 250,000 75,000 250,000 250,000 75,000 250,000 75,000 250,000 50,000 75,000 50,000 75,000 200,000 250,000 75,000 75,000 50,000 250,000 250,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 5

Option symbol

Underlying symbol

Company Name

Position Limit

DIR DOL DOO DPM DRG DRM DSG ECA ECI EDR EDV EFN EFN1 EFX ELD EMA EMP ENB ENF ENGH ERF ESI EXE FCR FM FNV FR FRU FTS FTT FVI G GC GEI GIB GIL GMP GOOS GRT GS GTE GUD GUY GWO H

DIR.UN DOL DOO DPM DRG.UN DRM DSG ECA ECI EDR EDV EFN EFN EFX ELD EMA EMP.A ENB ENF ENGH ERF ESI EXE FCR FM FNV FR FRU FTS FTT FVI G GC GEI GIB.A GIL GMP GOOS GRT.UN GS GTE GUD GUY GWO H

Dream Industrial Real Estate Investment Trust Dollarama inc. BRP Inc. Dundee Precious Metals Inc. Dream Global Real Estate Investment DREAM Unlimited Corp. Descartes Systems Group Inc. EnCana Corporation EnerCare.Inc. Endeavour Silver Corp. Endeavour Mining Corp. Element Financial Corporation Element Financial Corporation Enerflex Ltd. Eldorado Gold Corporation Emera Incorporated Empire Company Limited Enbridge Inc. Enbridge Income Fund Holdings Inc. Enghouse Systems Limited Enerplus Resources Fund Ensign Energy Services Inc. Extendicare Real Estate Investment Trust Unit First Capital Realty Inc. First Quantum Minerals Ltd. Franco Nevada Corporation First Majestic Silver Corp. Freehold Royalties Ltd. Fortis Inc Finning International Inc. Fortuna Silver Mines Goldcorp Inc. Great Canadian Gaming Corp. Gibson Energy inc. CGI Inc. (Group) Gildan Activewear Inc. GMP Capital Inc. Canada Goose Holdings Inc. Granite Real estate Inc. Gluskin Sheff + Associates Inc. Gran Tierra Energy Inc. Knight Therapeutics Inc. Guyana Goldfields Inc. Great-West Lifeco Inc. Hydro One limited

50,000 75,000 50,000 75,000 200,000 50,000 50,000 250,000 50,000 75,000 75,000 250,000 250,000 75,000 250,000 250,000 200,000 250,000 250,000 25,000 250,000 75,000 50,000 200,000 250,000 200,000 250,000 75,000 250,000 200,000 200,000 250,000 50,000 75,000 250,000 250,000 50,000 75,000 50,000 50,000 250,000 75,000 250,000 250,000 250,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 6

Option symbol

Underlying symbol

Company Name

Position Limit

HBC HBM HCG HR HSE IAG IFC IFP IGM IMG IMO INE IPL ITP IVN JE JWEL K KDX KEL KEY KL KML KXS L LAC LB LEAF LIF LNR LUN MAG MAXR MDI MEG MFC MFI MG MIC MNW MRE MRU MTL MUX MX

HBC HBM HCG HR.UN HSE IAG IFC IFP IGM IMG IMO INE IPL ITP IVN JE JWEL K KDX KEL KEY KL KML KXS L LAC LB LEAF LIF LNR LUN MAG MAXR MDI MEG MFC MFI MG MIC MNW MRE MRU MTL MUX MX

Hudson's Bay Company Hudbay Minerals Inc. Home Capital Group Inc. H&R Real Estate Investment Trust Husky Energy Inc. Industrial Alliance Insurance and Financial Services Inc. Intact Financial Corporation Interfor Corporation IGM Financial Inc. IAMGold Corporation Imperial Oil Limited Innergex Renewable Energy Inc. Inter Pipeline Fund Intertape Polymer Group Inc. Ivanhoe Mines Ltd. Just Energy Group Inc. Jamieson Wellness Inc. Kinross Gold Corporation Klondex Mines Ltd. Kelt Exploration Ltd. Keyera Corp. Kirkland Lake Gold Inc. Kinder Morgan Canada Ltd. Kinaxis Inc. Loblaw Companies Limited Lithium Americas Laurentian Bank of Canada MedReleaf Corp. Labrador Iron Ore Royalty Corporation Linamar Corporation Lundin Mining Corporation MAG Silver Corp. Maxar Technologies Ltd. Major Drilling Group International MEG Energy Corp. Manulife Financial Corporation Maple Leaf Foods Inc. Magna International Inc. Genworth MI Canada Inc. Mitel Networks Corporation Martinrea International Inc. Metro Inc. Mullen Group Ltd. McEwen Mining Inc. Methanex Corporation

200,000 250,000 75,000 250,000 250,000 50,000 75,000 75,000 75,000 250,000 250,000 75,000 250,000 75,000 250,000 200,000 25,000 250,000 250,000 250,000 250,000 250,000 75,000 25,000 250,000 250,000 50,000 75,000 75,000 50,000 250,000 50,000 75,000 50,000 250,000 250,000 75,000 250,000 75,000 75,000 75,000 250,000 50,000 250,000 75,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 7

Option symbol

Underlying symbol

Company Name

Position Limit

NA NFI NG NGD NPI NSU NTR NVA NVU NWC NWH

NA NFI NG NGD NPI NSU NTR NVA NVU.UN NWC NWH.UN

250,000 50,000 75,000 250,000 75,000 250,000 200,000 250,000 50,000 50,000 75,000

OGC ONEX OR ORL OSB OSK OTEX PAAS PBH PD PEY PG PJC PKI PONY POT1 POU POW PPL PSI PSK PVG PWF PXT QBR QSR RBA RCI REAL REF REI RFP

OGC ONEX OR ORL OSB OSK OTEX PAAS PBH PD PEY PG PJC.A PKI PONY POT POU POW PPL PSI PSK PVG PWF PXT QBR.B QSR RBA RCI.B REAL REF.UN REI.UN RFP

National Bank of Canada New Flyer Industries Inc. NovaGold Resources Inc. New Gold Inc. Northland Power Inc. Nevsun Resouces Ltd. Nutrien Ltd. Nuvista Energy Ltd. Northview Apartment Real Estate Investment Trust The North West Company Inc. NorthWest Healthcare Properties Real Estate Investment Trust OceanaGold Corporation Onex Corp. Osisko Gold Royalties Ltd Orocobre Norbord Inc. Osisko Mining Inc. Open Text Corporation Pan American Silver Corp. Premium Brands Holdings Corporation Precision Drilling Trust Peyto Exploration & Development Corp. Premier Gold Mines Ltd Jean Coutu Group (PJC) Inc. Parkland Fuel Corporation Painted Pony Energy Ltd. Potash Corporation of Saskatchewan Inc. Paramount Resources Ltd. Power Corporation of Canada Pembina Pipeline Corporation Pason Systems Inc. PrairieSky Royalty Ltd. Pretium Resources Inc. Power Financial Corporation Parex Resources inc. Quebecor Inc. Restaurant Brands International Ritchie Bros. Auctioneers Incorporated Rogers Communications Inc. Real Matters Inc. Canadian Real Estate Investment Trust RioCan Real Estate Investment Trust Resolute Forest Products Inc. Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

250,000 50,000 200,000 75,000 75,000 200,000 250,000 75,000 25,000 250,000 250,000 200,000 75,000 200,000 250,000 250,000 200,000 250,000 250,000 50,000 250,000 250,000 250,000 250,000 200,000 200,000 50,000 250,000 50,000 50,000 250,000 50,000

Circular no.: 037-18

Page 8

Option symbol

Underlying symbol

Company Name

Position Limit

RNW RRX RUS RY SAP SCL SEA SES SGY SHOP SIA SJ SJR SLF SMF SNC SOY SPB SPE SRU SSL SSRM STB STN SU SVM SW T TA TCL TCN TCW TD TECK TFII THO TIH TOG TOU TRI TRP TRQ TSGI TXG U

RNW RRX RUS RY SAP SCL SEA SES SGY SHOP SIA SJ SJR.B SLF SMF SNC SOY SPB SPE SRU.UN SSL SSRM STB STN SU SVM SW T TA TCL.A TCN TCW TD TECK.B TFII THO TIH TOG TOU TRI TRP TRQ TSGI TXG U

TransAlta Renewables Inc. Raging River Exploration Inc. Russel Metals Inc. Royal Bank of Canada Saputo Inc. ShawCor Ltd., Cl. A Seabridge Gold Inc. Secure Energy Services Inc. Surge Energy Inc. Shopify Inc Sienna Senior Living Inc. Stella-Jones Inc. Shaw Communications Inc. Sun Life Financial Inc. Semafo Inc. SNC-Lavalin Group Inc. SunOpta Inc. Superior Plus Corp. Spartan Energy Corp. SmartCentres Real Estate Investment Trust Sandstorm Gold Ltd. SSR Mining Inc. Student Transportation Inc. Stantec Inc. Suncor Energy Inc. Silvercorp Metals Inc. Sierra Wireless Inc. TELUS Corporation TransAlta Corporation Transcontinental Inc. Tricon Capital Group Inc. Trican Well Services Ltd. Toronto-Dominion Bank Teck Resources Limited TransForce Inc. Tahoe Resources Inc. Toromont Industries Ltd. TORC Oil & Gas Ltd. Tourmaline Oil Corp. Thomson Reuters Corporation TransCanada Corporation Turquoise Hill Resources Ltd. The Stars Group Inc. Torex Gold Resources Inc. Uranium Participation Corporation

200,000 250,000 50,000 250,000 250,000 50,000 50,000 200,000 250,000 200,000 50,000 50,000 250,000 250,000 250,000 75,000 50,000 75,000 250,000 75,000 200,000 75,000 75,000 75,000 250,000 200,000 50,000 250,000 250,000 50,000 75,000 250,000 250,000 250,000 75,000 250,000 50,000 250,000 250,000 250,000 250,000 250,000 250,000 200,000 75,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 9

Option symbol

Underlying symbol

Company Name

Position Limit

UFS UNS VET VII VRX WCN WCP WEED WFT WJA WJX WN WPK WPM WPRT WSP WTE X YRI ZZZ

UFS UNS VET VII VRX WCN WCP WEED WFT WJA WJX WN WPK WPM WPRT WSP WTE X YRI ZZZ

Domtar Corporation Uni-Selecte Inc. Vermilion Energy Inc. Seven Generators Energy Ltd. Valeant Pharmaceuticals International inc. Waste Connections Inc. Whitecap Resources Inc. Canopy Growth Corporation West Fraser Timber Co. WestJet Airlines Ltd. Wajax Corporation George Weston Limited Winpak Ltd. Wheaton Precious Metal Corp. Westport Fuel Systems Inc. WSP GlobalInc. Westshore Terminals Investments Corporation TMX Group Inc. Yamana Gold Inc. Sleep Country Canada Holdings Inc.

50,000 50,000 200,000 250,000 250,000 200,000 250,000 250,000 75,000 75,000 25,000 50,000 50,000 250,000 75,000 50,000 50,000 50,000 250,000 50,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 10

POSITION LIMITS - EXCHANGE TRADED FUND OPTIONS March 2018 Option symbol

Underlying symbol

Index Participation Units

Position Limit

CGL

CGL

iShared Gold Bullion ETF

25,000

HGD

HGD

Options on BetaPro Canadian Gold Miners -2x Daily Bear ETF

75,000

HGU

HGU

Options on BetaPro Canadian Gold Miners 2x Daily Bull ETF

250,000

HMMJ

HMMJ

Horizon Marijuana Life Sciences Index ETF

250,000

HND

HND

Options on BetaPro Natural Gas -2x Daily Bear ETF

250,000

HNU

HNU

Options on BetaPro Natural Gas 2x Daily Bull ETF

250,000

HOD

HOD

Options on BetaPro Crude Oil -2x Daily Bear ETF

250,000

HOU

HOU

Options on BetaPro Crude Oil 2x Daily Bull ETF

250,000

HPR

HPR

Horizons Active Preferred Share ETF

400 000

HVU

HVU

BetaPro S&P 500 VIX Short-Term Futures 2x Daily Bull ETF

250,000

HXD

HXD

Options on BetaPro S&P/TSX 60™ -2x Daily Bear ETF

75,000

HXT

HXT

Options on Horizons BetaPro S&P/TSX 60 ETF

200,000

HXU

HXU

Options on BetaPro S&P/TSX 60™ 2x Daily Bull ETF

75,000

VAB

VAB

Vanguard Canadian Aggregate Bond Index ETF

50,000

VFV

VFV

Vanguard S&P 500 Index ETF

50,000

VSB

VSB

Vanguard Canadian Short-Term Bond Index ETF

50,000

VSC

VSC

Vanguard Canadian Short-Term Corporate Bond Index ETF

50,000

VUN

VUN

Vanguard U.S. Total Market Index ETF

50,000

XCB

XCB

Options on iShares Canadian Corporate Bond Index ETF

100,000

XDV

XDV

Options on iShares Canadian Select Dividend Index ETF

100,000

XEG

XEG

Options on iShares S&P/TSX Capped Energy Index ETF

500 000

XFN

XFN

Options on iShares S&P/TSX Capped Financials Index ETF

400 000

XGD

XGD

Options on iShares S&P/TSX Global Gold Index ETF

500 000

XIC

XIC

Options on iShares CDN S&P/TSX Capped Composite Index ETF

250,000

XIN

XIN

Options on iShares MSCI EAFE Index ETF (CAD Hedged)

50,000

XIT

XIT

Options on iShares S&P/TSX Capped Information Technology Index ETF

50,000

XIU

XIU

Options on iShares S&P/TSX 60 Index ETF

600 000

XMA

XMA

Options on iShares Index S&P/TSX Capped Materials ETF

50,000

XRE

XRE

iShares S&P/TSX Capped REIT Index Fund

150,000

XSB

XSB

Options on iShares Core Canadian Short Term Bond Index ETF

50,000

XSP

XSP

Options on iShares S&P 500 Index ETF (CAD-Hedged)

500,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 11

Option symbol

Underlying symbol

Index Participation Units

Position Limit

XSU

XSU

iShare U.S. Small Cap Index ETF (CAD-Hedged)

100,000

ZAG

ZAG

BMO Aggregate Bond Index ETF

200,000

ZCM

ZCM

BMO Mid Corporate Bond Index ETF

50,000

ZCN

ZCN

BMO S&P/TSX Capped Composite Index ETF

150,000

ZDM

ZDM

BMO MSCI EAFE Hedged to CAD Index ETF

50,000

ZDV

ZDV

BMO Canadian Dividend ETF

100,000

ZEA

ZEA

BMO MSCI EAFE Index ETF

100,000

ZEB

ZEB

BMO Equal Weight Banks Index ETF

250,000

ZEO

ZEO

BMO Equal Weight Oil & Gas Index ETF

150,000

ZEQ

ZEQ

BMO MSCI Europe High Quality Hedged to CAD Index ETF

50,000

ZFL

ZFL

BMO Long Federal Bond Index ETF

25,000

ZHY

ZHY

BMO High Yield US Corporate Bond Hedged to CAD Index ETF

250,000

ZLB

ZLB

BMO Low Volatility Canadian Equity ETF

100,000

ZLU

ZLU

BMO Low Volatility US Equity ETF

50,000

ZPR

ZPR

BMO S&P/TSX Laddered Preferred Share Index ETF

250,000

ZQQ

ZQQ

BMO Nasdaq 100 Equity Hedged to CAD Index ETF

50,000

ZRE

ZRE

BMO Equal Weight REITs Index ETF

50,000

ZSP

ZSP

BMP S&P 500Index ETF

250,000

ZUB

ZUB

BMO Equal Weight US Banks Hedged to CAD Index ETF

100,000

ZUE

ZUE

BMO S&P 500 Hedged to CAD Index ETF

100,000

ZUH

ZUH

BMO Equal Weight US Health Care Hedged to CAD Index

50,000

ZUT

ZUT

BMO Equal Weight Utilities Index ETF

50,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca

Circular no.: 037-18

Page 12 POSITION LIMITS - SECTOR INDEX OPTIONS March 2018

Symbol

Company Name

Position Limit

SXJ

S&P/TSX Composite Index Banks (Industry Group) Options

40,000

SXV

S&P/TSX Capped Utilities Index Options

40,000

POSITION LIMIT - INDEX OPTIONS March 2018 Symbol

Index

Position Limit

SXO

Options on S&P/TSX 60 Index

500,000

POSITION LIMIT - CURRENCY OPTIONS March 2018 Symbol

Currency

Position Limit

USX

Options on the US dollar

40,000

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9 Telephone: (514) 871-2424 Toll-free within Canada and the U.S.A.: 1 800 361-5353 Website: www.m-x.ca