Bourse de Montréal : Penny Program - Replacement of Classes

Trading - Interest Rate Derivatives	Back-office - Options
Trading - Equity and Index Derivatives	Technology
Back-office - Futures	Regulation

CIRCULAR 010-18

January 22, 2018

PENNY PROGRAM - REPLACEMENT OF CLASSES

In accordance with the Bourse's procedures to periodically review the penny program, add new eligible classes or replace the ones that have been subject to a corporate action or do not meet the eligibility criteria, the Bourse has modified certain classes in the Penny Program as follows:

The following classes have been removed:

•  Concordia International Corp. (CXR) - option class being delisted

•  Dominion Diamond Corporation (DDC) - The Bourse's circular 155-17

•  Veresen Inc (VSN) - The Bourse's circular 140-17

The following classes have been modified:

•  Agrium Inc. : AGU1 replaces AGU - The Bourse's circular 185-17

•  Brookfield Asset Management Inc. Cl. A (BAM.A): BAM4 is added to the penny program - The Bourse's circular 077-17

•  Element Financial Corporation: EFN1 is added to the penny program - The Bourse's circular 119-16

•  Pembina Pipeline Corporation: PPL2 is added to the penny program - The Bourse's circular 140-17

•  Potash Corporation of Saskatchewan Inc.: POT1 replaces POT - The Bourse's circular 186-17

The following classes will be added:

•  OceanaGold Corporation (OGC)

•  Hudson's Bay Company (HBC)

•  Home Capital Group Inc. (HCG)

•  Nutrien Ltd (NTR)

All these changes are reflected in the table below. Classes listed in Schedule A will be part of the Penny Program as of February 1st, 2018.

All series of the XEG, XFN, XGD and XIU options classes and all series priced below $3.00 in the other equity options classes listed in Schedule A will be quoted in pennies. Series priced $3.00 and higher in all options classes in Schedule A, other than XEG, XFN, XGD and XIU options series, will be quoted in increments of $0.05.

Tour de la Bourse

P.O. Box 61, 800 Victoria Square, Montréal, Quebec H4Z 1A9

Telephone: [phone]

Toll-free within Canada and the U.S.A.: 1 800 361-5353

Website:www.m-x.ca

Please note that, going forward, The Bourse will only issue a circular to announce additions and removals of classes from the Penny Program. For other changes, such as corporate actions, name change and symbol change affecting options classes part of the Penny Program, please refer to the Penny Program list found under the "useful documents" section at this link:https://www.m-x.ca/nego_cotes_en.php.

For any questions, please contact the Market Operations Department at 514 871-7877 or Gladys Karam, Director, Equity Derivatives, by email [e-mail].

Schedule A

REPLACEMENT OF CLASSES IN THE PENNY PROGRAM

Company description	Option symbol
Air Canada	AC
Agnico Eagle Mines Limited	AEM
Agrium Inc.	AGU11
Alimentation Couche Tard Inc., Cl. B	ATD
Arc Resources Ltd.	ARX
Bank of Montreal	BMO
Bank of Nova Scotia (The)	BNS
Barrick Gold Corporation	ABX
Baytex Energy Corp.	BTE
BCE Inc.	BCE
BlackBerry Limited	BB
Bombardier Inc., Cl. B	BBD
Brookfield Asset Management Inc., Cl. A	BAM/BAM42
Cameco Corporation	CCO
Canadian Imperial Bank of Commerce	CM
Canadian National Railway Company	CNR
Canadian Natural Resources Limited	CNQ
Canadian Pacific Railway Limited	CP
Canadian Western Bank	CWB
Cardinal Energy Ltd.	CJ
Cenovus Energy Inc.	CVE
CGI Group Inc., Cl. A	GIB
Crescent Point Energy Corp.	CPG
Detour Gold Corp.	DGC

• 1 The Bourse's circular 185-17

• 2 The Bourse's circular 077-17

Eldorado Gold Corporation ELD

Eldorado Gold Corporation	ELD
Element Financial Corporation	EFN/EFN13
Emera Inc.	EMA
Enbridge Inc.	ENB
Encana Corporation	ECA
Enerplus Resources Fund	ERF
Finning International Inc.	FTT
First Majestic Silver Corp.	FR
First Quantum Minerals Ltd.	FM
Fortis Inc.	FTS
Franco Nevada Corp.	FNV
Goldcorp Inc.	G
Great-West Lifeco Inc.	GWO
Home Capital Group Inc.	HCG
Hudbay Minerals Inc.	HBM
Hudson's Bay Company	HBC
Husky Energy Inc.	HSE
IAMGOLD Corporation	IMG
Imperial Oil Limited	IMO
Inter Pipeline Ltd.	IPL
iShares S&P/TSX Capped Energy Index ETF	XEG
iShares S&P/TSX Capped Financials Index ETF	XFN
iShares S&P/TSX Global Gold Index ETF	XGD
iShares S&P/TSX 60 Index ETF	XIU
Kinross Gold Corporation	K
Loblaw Companies Ltd.	L
Lundin Mining Corp.	LUN
Magna International Inc.	MG
Manulife Financial Corporation	MFC
MEG Energy Corp.	MEG
National Bank of Canada	NA
New Gold Inc.	NGD
Nutrien Ltd	NTR
OceanaGold Corporation	OGC
Pan American Silver Corp.	PAAS4
Paramount Resources Ltd.	POU
Pembina Pipeline Corporation	PPL/PPL25

• 3 The Bourse's circular 119-16

• 4 The Bourse's circular 015-17

• 5 The Bourse's circular 140-17

Potash Corporation of Saskatchewan Inc.

POT16

Potash Corporation of Saskatchewan Inc.	POT16
Power Corporation of Canada	POW
Precision Drilling Corporation	PD
Rogers Communications Inc., Cl. B	RCI
Royal Bank of Canada	RY
Shaw Communications Inc., Cl. B	SJR
SSR Mining Inc.	SSRM7
Sun Life Financial Inc.	SLF
Suncor Energy Inc.	SU
Tahoe Resources Inc.	THO
Teck Resources Limited, Cl. B	TECK8
TELUS Corporation	T
Thomson Reuters Corporation	TRI
Toronto-Dominion Bank (The)	TD
Tourmaline Oil Corp.	TOU
TransAlta Corporation	TA
TransCanada Corporation	TRP
Whitecap Resources Inc.	WCP
Wheaton Precious Metals Corp.	WPM9
Yamana Gold Inc.	YRI

Gladys Karam

Director, Equity Derivatives Financial Markets

• 6 The Bourse's circular 186-17

• 7 The Bourse's circular 114-17

• 8 The Bourse's circular 158-16

• 9 The Bourse's circular 065-17