CIRCULAR 052-18 April 20, 2018 POSITION LIMITS FOR SHARE FUTURES CONTRACTS Please be advised that the position limits for share futures listed at Bourse de Montréal Inc. (the Bourse) are outlined in the attached list. The position limits for share futures contracts apply to all net long or net short futures positions in all contract months combined, that are aggregated with options 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. * New listings as of April 23rd, 2018

Position Limit

Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

FAC

CAE

CAE Inc.

250,000

FAE

AEM

Agnico-Eagle Mines Limited

250,000

FAL FAX

ALA ARX

Altagas Ltd. Arc Resources Ltd.

250,000 250,000

FBA FBB FBC FBD

ABX BB BCE BBD.B

Barrick Gold BlackBerry Ltd. BCE Inc. Bombardier Inc. Class B

250,000 250,000 250,000 250,000

FBM

BAM.A

Brookfield Asset Management Inc. Cl A

250,000

FBO FCB FCG

BMO CM CPG

Bank of Montreal Canadian Imperial Bank of Commerce Crescent Point Energy Corp.

250,000 250,000 250,000

FCI FCL FCN FCP

CCL.B SNC CNR CP

CCL Industries Inc. Unlimited Class B SNC-Lavalin Group Inc. Canadian National Railway Company Canadian Pacific Railway Ltd.

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

FCQ

CNQ

Canadian Natural Resources Limited

250,000

FCT

CTC.A

Canadian Tire Ltd. Class A

50,000

FCX FDO

CIX DOL

CI Financial Corp. Dollarama Inc.

250,000 75,000

FEA

ECA

Encana Corporation

250,000

(# of contracts)

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montreal, 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

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Position Limit

Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

FEB FEF FEL FEM FEU* FFR FFS

ENB EFN ELD EMP.A BTE FCR FTS

Enbridge Inc. Element Financial Corporation Eldorado Gold Corporation Empire Company Ltd, Cl. A Baytex Energy Corp. First Capital Realty Inc. Fortis Inc.

250,000 250,000 250,000 200,000 250,000 200,000 250,000

FFV FGG FGI FGN

FNV G GIB.A IGM

Franco Nevada Corp. GoldCorp Inc. CGI Group Inc Class A IGM Financial Inc.

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

FGW FHO FHS

GIL H HSE

250,000 250,000 250,000

FIA

IAG

FIF

IFC

Gildan Activewear Inc. Hydro One Limited Husky Energy Inc. Industrial Alliance Insurance and Financial Services Inc. Intact Financial Corp.

FIR FKJ*

RCI.B

Rogers Communications Non-Voting I

250,000

KL

Kirkland Lake Gold Inc.

250,000

FKK

K

Kinross Gold Corp.

250,000

FKY FLC

KEY LNR

Keyera Corp. Linamar Corporation

200,000 50,000

FLF

SLF

Sun Life Financial

250,000

FLL

L

Loblaw Cos. Ltd.

250,000

FLN

LUN

Lundin Mining Corp.

250,000

FLV FMA

LEAF EMA

Medreleaf Corp. Emera Inc.

75,000 250,000

FMF

MFC

Manulife Financial Corporation

250,000

FMI FMO FMQ FMU

MG IMO FM MRU

Magna International Inc. Imperial Oil Ltd. First Quantum Minerals Ltd. Metro Inc.

250,000 250,000 250,000 250,000

FMX

MX

Methanex Corp.

75,000

(# of contracts)

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montreal, 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

50,000 75,000

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Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

FNB FNN FNS FNU FOA FOC FON FOP FOU FPF FPH FPK FPL FPM FPP FPV* FPW FQB* FQN* FQR FRP FRT FRV FRY FSA FSG FSH FSJ FSU FTA FTC FTD FTK

NA FTT BNS NTR ACB CCO ONEX OTEX TOU PWF APH PSK IPL WPM PPL PEY POW LB AQN QSR TRP TRI VRX RY SAP VII SHOP SJR.B SU ATD.B T TD TECK.B

National Bank of Canada Finning International Inc. Bank of Nova Scotia Nutrien Ltd. Aurora Cannabis Inc. Cameco Corporation Onex Corp. Open Text Corp. Tourmaline Oil Corp. Power Financial Corporation Aphria Inc. Prairiesky Royalty Ltd. Inter Pipeline Ltd. Wheaton Precious Metal Corp. Pembina Pipeline Corporation Peyto Exploration & Development Corp. Power Corporation of Canada Laurentian Bank of Canada Algonquin Power and Utilities Corp. Restaurant Brands International Transcanada Corporation Thomson Reuters Corporation Valeant Pharmaceuticals International Royal Bank of Canada Saputo Inc. Seven Generations Energy Ltd. Shopify Inc. Shaw Communications Inc.Class B Suncor Energy Inc. Alimentation Couche Tard Sub Votin Telus Corporation Toronto Dominion Bank Teck Resources B Ltd.

Position Limit (# of contracts)

Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montreal, 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

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

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Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

FTL FTQ FUE FVE FVJ* FVM FWA* FWC FWD FWL FWN FWP FWT FXJ* FYR FZC* KGA

ACO.X TRQ CU CVE CJ VET AC WCN WEED GWO WN WCP WFT CJR.B YRI CCA AGU

Atco Ltd. Turquoise Hill Resources Ltd. Canadian Utilities Limited Cenovus Energy Inc . Cardinal Energy Ltd. Vermilion Energy Inc. Air Canada Waste Connections Inc. Canopy Growth Corporation Great West Lifeco Inc. George Weston Ltd. Whitecap Resources Inc. West Fraser Timber Co Ltd. Corus Entertainment Inc. Cl. B Yamana Gold Inc. Cogeco Communications Inc. Agrium Inc.

Position Limit (# of contracts)

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

Please be reminded that in accordance to Article 6651 of Rule Six of the Rules of the Bourse – Position Limits for Options and Share Futures Contracts of the Rules of the Bourse, calls written, puts held, a net short share futures position, and short underlying interest are on the same side of the market and puts written, calls held, a net long share futures position, and long underlying interest are on the same side of the market. Large open positions must be reported in accordance to Article 14102 of Rule Fourteen of the Rules of the Bourse – Reports Pertaining to the Accumulation of Positions for Derivative Instruments. The reporting threshold for large open position reports (LOPR) of share futures is 250 contracts. Please refer to Circular 149-16 for more details. For more information, please contact the Regulatory Division, by telephone at 514 787-6530, or by email at [email protected].

Julie Rochette Vice President and Chief Regulatory Officer Bourse de Montréal Inc. Tour de la Bourse P.O. Box 61, 800 Victoria Square, Montreal, 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

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