Trading and Access Fees

File Designated Securities

CSE Listed Securities (Including Rights and Warrants)

Price range per share Active Fee Passive Fee
Equal to or greater than $1.00 $0.0002 $0.0002
$0.10 - $0.99 $0.00008 $0.00008
Less than $0.10 $0.00004 with a cap of $15 $0.00004 with a cap of $15

TSX-V Listed Securities (Including Rights and Warrants)

Price range per share Active Fee Passive Fee
Equal to or greater than $1.00 $0.0002 with a cap of $30 $0.0002 with a cap of $30
$0.10 - $0.99 $0.00007 with a cap of $30 $0.00007 with a cap of $30
Less than $0.10 $0.00002 with a cap of $15 $0.00002 with a cap of $15

TSX Listed Securities (Including Rights and Warrants)

Price range per share Active Fee Passive Fee
Equal to or greater than $1.00 $0.0025 -$0.0021
Designated Securities* -$0.0014 $0.0018
$0.10 - $0.99 $0.00008 $0.00008
Less than $0.10 $0.00004 with a cap of $15 $0.00004 with a cap of $15

*Designated Securities: TSX listed securities that trade more than 750,000 shares a day on average. A notice will be issued semiannually identifying the Designated Securities. The list of Designated Securities will be determined by the CSE.

Trades occurring in the market-on-open facility will have each side designated as active or passive, according to time priority, and will either be charged a fee or earn a rebate on the same terms as in the continuous auction market.

CSE, TSX and TSX-V Listed Debentures or Notes (Par $1,000 Par Value)

Fee to Take Liquidity $0.09
Rebate for Providing Liquidity $0.07

CSE Listed Government Bonds
A flat fee of $9.75 per side per trade
 

Market Maker

Type Active Fee/Rebate Passive Fee/Rebate
TSX listed securities equal to or greater than $1.00 $0.0025 -$0.0021
TSX listed Designated Securities -$0.0014 $0.0016
TSX listed securities less than $1.00 Free Free
CSE listed and TSX-V listed securities Free Free

A $5.00 per symbol credit per month will be issued to Market Makers on their assigned CSE listed securities.

Oddlot Trading
For CSE listed and TSX-V listed securities, all oddlots will be charged a fee of $0.0002 per share. Market Makers will be neither charged a fee nor earn a rebate for oddlot trades.

For TSX listed securities, the active side of the oddlot trade will receive a $0.0002 rebate while the passive side will be charged a $0.0004 fee.

Access Fee
Each CSE Dealer is charged a monthly participation fee of $500.

Dealer Application Fee

Upon approval each CSE Dealer is charged a one-time fee of $2,500.

General

The active side of a trade is an incoming order that executes against an already-existing order and thereby takes liquidity from the market, and the passive side of a trade is the order that rests in the order book and provides liquidity to the market.

Unintentional crosses will have each side designated as active or passive and will be either charged a fee or earn a rebate, as they are part of the continuous auction market.

Intentional crosses will neither be charged a fee nor earn a rebate until further notice.

There is no minimum monthly trading fee and it is expected that some dealers will earn a rebate from the CSE. For those who prefer, dealers may elect to defer realizing their rebates and instead preserve same as a rolling credit against future fee payments otherwise due to the CSE.

The fees and rebates described above are subject to change.

Market Access Fees

Service Fee Description
Gateway Market Access $3,000 per month

FIX Order Entry, FIX Certification, Gateway Test Environment, Session Bundles, Drop Copies/Broadcast Feed, Weekend Tests, 1 and 10 Gb Connectivity at Q9 Systems and Equinix data centres.

Note:

1. Subject to system availability, no restriction on the number of Order Entry connections.

2. End User fees apply for the distribution of Market Information.

Additional Connection $500 per month Per additional primary and back-up connection