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CIRCULAR 038-18 March 14, 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 March 13th, 2018 Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

Position Limit (# of contracts)

FAC

CAE

CAE Inc.

250,000

FAE

AEM

Agnico-Eagle Mines Limited

250,000

FAL

ALA

Altagas Ltd.

250,000

FAX

ARX

Arc Resources Ltd.

250,000

FBA

ABX

Barrick Gold

250,000

FBB FBC

BB BCE

BlackBerry Ltd. BCE Inc.

250,000 250,000

FBD

BBD.B

Bombardier Inc. Class B

250,000

FBM

BAM.A

Brookfield Asset Management Inc. Cl A

250,000

FBO FCB

BMO CM

Bank of Montreal Canadian Imperial Bank of Commerce

250,000 250,000

FCG

CPG

Crescent Point Energy Corp.

250,000

FCI

CCL.B

CCL Industries Inc. Unlimited Class B

200,000

FCL FCN

SNC CNR

SNC-Lavalin Group Inc. Canadian National Railway Company

750,000 250,000

FCP

CP

Canadian Pacific Railway Ltd.

75,000

FCQ

CNQ

Canadian Natural Resources Limited

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.: 038-18

Page 2

Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

Position Limit (# of contracts)

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

FEB

ENB

Enbridge Inc.

250,000

FEF FEL

EFN ELD

Element Financial Corporation Eldorado Gold Corporation

250,000 250,000

FEM

EMP.A

Empire Company Ltd, Cl. A

200,000

FFR FFS

FCR FTS

First Capital Realty Inc. Fortis Inc.

200,000 250,000

FFV

FNV

Franco Nevada Corp.

200,000

FGG

G

GoldCorp Inc.

250,000

FGI FGN

GIB.A IGM

CGI Group Inc Class A IGM Financial Inc.

250,000 75,000

FGW

GIL

Gildan Activewear Inc.

250,000

FHO

H

Hydro One Limited

250,000

FHS FIA

HSE IAG

250,000 50,000

FIF

IFC

Husky Energy Inc. Industrial Alliance Insurance and Financial Services Inc. Intact Financial Corp.

FIR

RCI.B

Rogers Communications Non-Voting I

250,000

FKK

K

Kinross Gold Corp.

250,000

FKY

KEY

Keyera Corp.

200,000

FLC

LNR

Linamar Corporation

50,000

FLF

SLF

Sun Life Financial

250,000

FLL

L

Loblaw Cos. Ltd.

250,000

FLN

LUN

Lundin Mining Corp.

250,000

FLV*

LEAF

Medreleaf Corp.

75,000

FMA

EMA

Emera Inc.

250,000

FMF

MFC

Manulife Financial Corporation

250,000

FMI FMO

MG IMO

Magna International Inc. Imperial Oil Ltd.

250,000 250,000

FMQ

FM

First Quantum Minerals Ltd.

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

75,000

Circular no.: 038-18

Page 3

Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

Position Limit (# of contracts)

FMU

MRU

Metro Inc.

250,000

FMX FNB

MX NA

Methanex Corp. National Bank of Canada

75,000 250,000

FNN

FTT

Finning International Inc.

200,000

FNS

BNS

Bank of Nova Scotia

250,000

FNU FOA*

NTR ACB

Nutrien Ltd. Aurora Cannabis Inc.

250,000 250,000

FOC

CCO

Cameco Corporation

250,000

FON FOP

ONEX OTEX

Onex Corp. Open Text Corp.

50,000 200,000

FOU

TOU

Tourmaline Oil Corp.

250,000

FPF

PWF

Power Financial Corporation

250,000

FPH* FPK

APH PSK

Aphria Inc. Prairiesky Royalty Ltd.

250,000 250,000

FPL

IPL

Inter Pipeline Ltd.

250,000

FPM FPP

WPM PPL

Wheaton Precious Metal Corp. Pembina Pipeline Corporation

250,000 250,000

FPW

POW

Power Corporation of Canada

250,000

FQR

QSR

Restaurants Brand International I

75,000

FRP FRT

TRP TRI

Transcanada Corporation Thomson Reuters Corporation

250,000 250,000

FRV

VRX

Valeant Pharmaceuticals International

250,000

FRY FSA

RY SAP

Royal Bank of Canada Saputo Inc.

250,000 250,000

FSG

VII

Seven Generations Energy Ltd.

250,000

FSH FSJ

SHOP SJR.B

Shopify Inc. Shaw Communications Inc.Class B

200,000 250,000

FSU

SU

Suncor Energy Inc.

250,000

FTA

ATD.B

Alimentation Couche Tard Sub Votin

250,000

FTC FTD

T TD

Telus Corporation Toronto Dominion Bank

250,000 250,000

FTK

TECK.B

Teck Resources B Ltd.

250,000

FTL

ACO.X

Atco Ltd.

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.: 038-18

Page 4

Share Futures Symbol

Underlying Symbol

Name of Underlying Canadian Shares

Position Limit (# of contracts)

FTQ

TRQ

Turquoise Hill Resources Ltd.

250,000

FUE FVE

CU CVE

Canadian Utilities Limited Cenovus Energy Inc .

75,000 250,000

FVM

VET

Vermilion Energy Inc.

200,000

FWC FWD*

WCN WEED

Waste Connections Inc. Canopy Growth Corporation

200,000 250,000

FWL

GWO

Great West Lifeco Inc.

250,000

FWN FWP

WN WCP

George Weston Ltd. Whitecap Resources Inc.

50,000 250,000

FWT

WFT

West Fraser Timber Co Ltd.

75,000

FYR

YRI

Yamana Gold Inc.

250,000

KGA KPO

AGU POT

Agrium Inc. Potash Corporation of Saskatchewan

75,000 250,000

Please be reminded that in accordance to Article 6651 – 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 – 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 14916 for more details. For more information, please contact the Regulatory Division, by telephone 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

Position Limits for Share Futures Contracts - Bourse de Montréal

Mar 14, 2018 - 50,000. FIF. IFC. Intact Financial Corp. 75,000. FIR. RCI.B. Rogers Communications Non-Voting I. 250,000. FKK. K. Kinross Gold Corp. 250,000.

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