Montreal holds a strong financial position in the structured financial product and derivative market segment, namely because of its more than fifteen or so major players (banks, insurance companies, pension funds, investment management firms, big businesses in the corporate sector, etc.), the Montreal Stock Exchange (specialized in derivatives), an academic research pole (approximately 80 finance researchers in four universities), and a highly-skilled financial engineering workforce (it is estimated that there are approximately 3,000 people whose jobs in Montreal are more or less directly related to derivatives).
The Montreal Institute of Structured Finance and Derivatives (IFSID) is a joint initiative by the Autorité des Marchés Financiers (AMF), the Ministère des Finances, Finance Montreal and HEC Montreal, meant to support this strong positioning through training and research projects tailored to industry needs.
Launched in September 2011, the IFSID has an initial budget of 15 million dollars over 10 years, composed of financial contributions from the AMF and Quebec government, as well as an infrastructure and human capital contribution from HEC Montreal. Other industry partners will be invited to participate in financing the Institute’s activities.
IFSID governance, through a board of directors and two committees, involves some twenty representatives from the industry, universities and regulatory authorities, to develop a network of partners able to mobilize teams of trainers and researchers serving the Montreal industry.
In the derivative field, the IFSID is a unique initiative at an international level. It seeks to enhance Montreal’s position as a financial centre by creating creative knowledge and wealth synergies and stimulating exchanges among the various partners.