Notes to the Consolidated Financial Statements
Years ended December 31, 2008 and 2007 (In thousands of dollars, except per share amounts)

3. Segmented information:

The Company operates in three reportable segments: the Cash Markets (“Cash”) segment, the Energy Markets (“Energy”) segment, and the Derivatives Markets (“Derivatives”) segment. In the Cash segment, the Company owns and operates Canada’s two national stock exchanges, Toronto Stock Exchange and TSX Venture Exchange; Shorcan, a fixed income inter-dealer broker; and Equicom, an investor relations and corporate communications services provider. The Energy segment provides a marketplace for the trading and clearing of natural gas and electricity contracts through NGX. The Derivatives segment provides markets for trading derivatives, clearing options and futures contracts and certain OTC products through MX and its subsidiaries, CDCC, MCeX, CAREX and BOX.

The accounting policies of the segments are the same as those described in significant accounting policies in note 1.

    Cash   Energy   Derviates   Total
2008                
Issuer Services $ 152,793 $ - $ - $ 152,793
Trading, clearing and related   145,788   29,748   47,314   222,850
Market data   126,043   70   9,420   135,533
Business services and other   14,974   383   6,656   22,013
Total revenue   439,598   30,201   63,390   533,189
                 
Net income   155,671   8,173   18,108   181,952
Goodwill   113,847   21,279   515,428   650,554
Total assets   517,437   1,185,344   1,969,305   3,672,086
                 
2007                
Issuer $ 133,939 $ - $ - $ 139,939
Trading, clearing and related   147,622   21,615   -   169,237
Market   109,602   639   -   110,241
Business services and other   11,456   (286)   -   11,170
Total revenue   402,619   21,968   -   424,587
                 
Net income   144,395   4,302   -   148,697
Goodwill   44,604   21,279   -   65,883
Total assets   647,291   876,628   -   1,523,919
*includes results from dates of acquisitions in the year