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Back-office - Options Technologie Réglementation MCeX

CIRCULAR February 23, 2011

NEW EQUITY AND ETF OPTIONS CLASSES Bourse de Montréal Inc. (the Bourse) and Canadian Derivatives Clearing Corporation (CDCC) hereby inform you that at the opening of trading on Friday February 25, 2011, the following new equity and ETF options classes will be listed: Avalon Rare Metals Inc. - AVL Capstone Mining Corp. – CS Horizons S&P/TSX 60 Index ETF- HXT Northern Dynasty Minerals Ltd. - NDM Provident Energy Ltd. - PVE The associated symbols and strike prices for these options will be listed as follows:

Company name

New Classes Symbol

Avalon Rare Metals Inc.

AVL

April May July October

Capstone Mining Corp.

CS

April May July October

Northern Dynasty Minerals Ltd.

NDM

April May July October

Provident Energy Ltd.

PVE

April May July October

Months

Tour de la Bourse C. P. 61, 800, square Victoria, Montréal (Québec) H4Z 1A9 Téléphone : (514) 871-2424 Sans frais au Canada et aux États-Unis : 1 800 361-5353 Site Internet : www.m-x.ca

Strike Prices $5.00 $6.00 $7.00 $8.00 $9.00 $3.00 $4.00 $5.00 $6.00 $7.00 $16.00 $17.00 $18.00 $19.00 $20.00 $6.00 $7.00 $8.00 $9.00 $10.00

Circulaire no : 034-2011

Page 2

Horizons S&P/TSX 60 Index ETF

HXT

April May June September December

$9.00 $10.00 $11.00 $12.00 $13.00

Strike prices are subject to change depending on the underlying value closing price on Thursday February 24, 2011.

Listed below are the margin intervals, ISIN numbers and the position limits for the new equity and ETF options classes:

UNDERLYING SYMBOLS AVL CS HXT NDM PVE

OPTION SYMBOLS

MARGIN INTERVALS

ISIN

POSITION LIMITS

AVL CS HXT NDM PVE

34.90% 15.74% 2.77% 16.87% 6.61%

*CA0534701002 *CA14068G1046 *CA44049A1167 *CA66510M2040 *CA74386V1004

75,000 75,000 75,000 22,500 75,000

* This is for informational purposes only. Although every effort has been made to ensure the accuracy of the information, we cannot be responsible for any errors or omissions. For further information, please contact Louise Leclair, Trading Systems Analyst Market Operations, Bourse de Montréal Inc. at 514-871-3526. Clearing Members may contact CDCC Member Services Department.

Brian Gelfand Vice-President, Institutional Relations and Market Operations

Circular no.: 034-2011

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

symbol conversion - Bourse de Montréal

Feb 23, 2011 - Toll-free within Canada and the U.S.A.: 1 800 361-5353 ... Listed below are the margin intervals, ISIN numbers and the position limits for the new equity ... Clearing Members may contact CDCC Member Services Department.

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