Given the current transfer rate of MR to SPG of 1K:250 points, I doubt we will see a 1:1 ratio card until the C$ moves to parity with the US$, or the US$ drops to the level of the C$. Also, I doubt there is enough of a market base in Canada for Amex to further sub-divide their membership base. A SPG Amex card would only eat into their other premium cards, and become a less profitable propostion for Amex.