Alain Miquelon Steps Down as CEO of Montreal Exchange, Group Head of Derivatives

Miquelon first landed at MX in 2007 when he served as executive vice president and chief financial officer (CFO) and head of strategy. He oversaw the integration of MX and TSX Group, which was completed in 2008. Miquelon was named president and CEO of MX in 2009.

"I want to thank TMX Group for giving me the opportunity to lead the derivatives group during the exciting development and growth period we've seen in the derivatives industry in the past seven years," said Miquelon. "I have the utmost confidence that the leadership team in place will deliver on the growth opportunities that the marketplace will offer MX in the coming years."

Luc Fortin, a managing director of derivatives trading at MX joined the firm in June, will serve as interim president and CEO of MX. Fortin will report to TMX Group CEO Lou Eccleston.

TMX Group has had several shakeups this summer at the C-level. In June, the firm named John McKenzie CFO. Jay Rajarathinam was named CIO in July.

"I would like to thank Alain for his significant contribution to MX's success and the work he has done to help advance MX's strong domestic and international reputation over the years," Eccleston said in a statement. "I know the CDCC Board is grateful to Alain for his dedicated leadership during his time on the Board as well. We wish him best of luck in his future endeavors."