Every day, the IQ-30 and IQ-150 indexes will be supplied to the media for diffusion like other stock market indexes. The IQ-30 and the IQ-150 will also be available to the public and specialists through an Internet site:http://www.iq30-iq150.org. This site provides ample information on the indexes, in particular their composition, equity weight, method of calculation, and so forth.

"In creating the Québec-30 and Québec-150 indexes, we are providing investors, both individual and institutional, with instruments that should play a role in the development of Quebec's financial sector," declared Jean Labrecque, president of the IRÉC. "In the context of restructuring and specialization of Canadian stock markets in 1999, it became pertinent to have an instrument to measure the stock market performance of Quebec companies," he continued.

The Québec-150 index and its sub-index, Québec-30 will

• measure, on an aggregated basis, the stock market performance of companies whose head offices are in Quebec and who are listed on a North American stock market;
• indirectly measure the strength of the Quebec economy using a weighting method that can evaluate these companies' part in the economic activity in Quebec;
• give an indication of the overall financial vitality of these companies;
• give investors wishing to invest in Quebec companies a benchmark and an instrument that is comparable to other stock market indexes.

The Québec-150 index is a general index that shows the movements of a broad base of Québec companies. The Québec-30 index is a sub-index of the general index and is characterized by a high liquidity and capitalization of the securities that make it up.

This index, made up of easily negotiable securities, should allow the creation of indicial products and futures contracts and options on futures. These products should be useful to many groups and institutions. The creation of contracts on this index should likely increase stock market activity in Montreal. Lastly, the Québec-30 index could also allow certain debt issuers to base returns on a Quebec market index.

"IRÉC has no commercial interest in creating the Quebec index. We hope that financial institutions will be interested in it and that they will use it to supply new financial products. It is now up to the business community to take over," concluded Jean Labrecque.

The indexes are calculated every day at the finance department of the Université de Sherbrooke, using rigorous and original methodology developed by the IRÉC. After the public unveiling of the Quebec index, Bruno-Marie Béchard, rector of the Université de Sherbrooke and Jean Labrecque, president of the IRÉC announced the creation of the Centre d'analyse et de suivi de l'indice Québec (CASIQ). CASIQ's mission is to maintain and update the indexes of Indice Québec. Located at the Faculté d'administration of the Université de Sherbrooke, CASIQ is a non-profit organization that came about through a partnership between the Département de finance of the Université de Sherbrooke and IRÉC. Professor Marc-André Lapointe, from the same department, played a major role in developing the indexes. The creation of CASIQ will allow an already fruitful partnership to continue.

According to Jean Labrecque, president of the IRÉC, CASIQ will offer the guarantee of neutrality and impartiality necessary to maintaining flawless credibility for the Indice Québec. "We wanted to intensify our collaboration with the Université de Sherbrooke and use the unveiling of the Indice Québec to create an organization, CASIQ, that would provide the best guarantees of rigour and impartiality for managing and following up on the Québec-30 and Québec-150 indexes," declared Jean Labrecque.

"For our university, CASIQ represents an exceptional opportunity to contribute more to the development of Quebec's financial sector. We have already been doing so for many years by training highly qualified graduates. Thanks to the Centre d'analyse et de suivi, we will be able to improve their training by giving them the possibility of observing the workings of a 'nerve centre' in a real-life situation," commented the rector of the Université de Sherbrooke, Bruno-Marie Béchard.