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| | Bourse de Montréal - Montréal Exchange: Derivatives Exchange Listing Stock Options and Futures |
 | | On a stock exchange, the stocks bought and sold represent partial ownership in the company that originally issued the stock. |
 | | On a derivatives exchange, the contracts traded derive their value from underlying issues like bonds, bankers' acceptances, dollar, stocks, indices and commodities. |
 | | Stock options are agreements between two parties for a specified time period (up to the expiry date), that give holders the right, not the obligation, to buy or sell a specified number of shares, usually a lot of 100, at a pre-determined price (exercise or strike price). |
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