Trading – Interest Rate Derivatives Trading – Equity and Index Derivatives Back-office – Futures

Back-office - Options Technology Regulation

CIRCULAR 137-15 November 18, 2015

ANTICIPATED CONTRACT ADJUSTMENT Horizons ETFs HGU, HNU, HOU and HXD Reverse Unit Split THE FOLLOWING INFORMATION IS PREPARED FOR THE CONVENIENCE OF CANADIAN DERIVATIVES CLEARING CORPORATION (CDCC) MEMBERS AND BOURSE DE MONTRÉAL INC. (THE BOURSE) APPROVED PARTICIPANTS. THIS DOCUMENT IS AN UNOFFICIAL SUMMARY OF CERTAIN TERMS OF THE AFOREMENTIONED ADJUSTMENT. CDCC AND THE BOURSE ACCEPT NO RESPONSIBILITY FOR THE ACCURACY OR COMPLETENESS OF THE SUMMARY. CDCC MEMBERS AND BOURSE APPROVED PARTICIPANTS MUST ENSURE THEY HAVE REVIEWED THE DOCUMENTATION PUBLISHED BY THE ISSUERS INVOLVED IN THIS CORPORATE ACTION. The Bourse and CDCC wish to inform you that Horizons ETFs Management (Canada) Inc. (“Horizons ETFs”) will consolidate the units of Horizons BetaPro S&P/TSX Global Gold Bull Plus ETF (“HGU”), Horizons BetaPro NYMEX Natural Gas Bull Plus ETF (“HNU”), Horizons BetaPro NYMEX Crude Oil Bull Plus ETF (“HOU”) and Horizons BetaPro S&P/TSX 60 Bear Plus ETF (“HXD”). The reverse unit split on the basis of a 1 for 5, 1 for 10, 1 for 2 and 1 for 2 ratio for HGU, HNU, HOU and HXD respectively, will be effective at the opening of markets on November 26, 2015. Name Horizons BetaPro S&P/TSX Global Gold Bull Plus ETF Horizons BetaPro NYMEX Natural Gas Bull Plus ETF Horizons BetaPro NYMEX Crude Oil Bull Plus ETF Horizons BetaPro S&P/TSX 60 Bear Plus ETF

Symbol HGU HNU HOU HXD

Ratio 1 for 5 1 for 10 1 for 2 1 for 2

PLEASE ENSURE THAT ALL CLIENTS WHO HAVE EITHER LONG OR SHORT POSITIONS IN THIS OPTION CLASS ARE ADVISED OF THIS NOTICE. For further information, please contact Louise Leclair, Trading Systems Analyst Market Operations, Bourse de Montréal Inc. at (514) 871-3526. CDCC clearing members may contact the Corporate Operations Department.

Jean-François Bertrand Vice-President, Market Operations, Services and Connectivity, Financial Markets 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

Jean-François Bertrand Vice-President, Market Operations, Services ...

Nov 18, 2015 - THE FOLLOWING INFORMATION IS PREPARED FOR THE CONVENIENCE OF. CANADIAN DERIVATIVES CLEARING CORPORATION ...

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