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Notice 2018-011 - CSE Trading Fee Schedule

December 20, 2018

 The Canadian Securities Exchange announces changes to its trading fee schedule that will take effect on January 1, 2019.

1. Flat Fee

The current flat fee model used for TSX-V listed securities is being expanded to TSX listed securities.

For TSX listed securities trading below $1.00, a flat fee of $15 will apply to each side of a trade that is greater than or equal to 200,000 shares.

 

Current Fee

New Fee

 

Active Rebate

Passive Fee

Active Rebate/Fee

Passive Fee

TSX listed securities   trading less than $1.00

-$0.0002

$0.0004

-$0.0002

A flat fee of $15 for   volume>= 200,000 shares

$0.0004

A flat fee of $15 for  volume>= 200,000 shares

 

2. Monthly Tier Credit - Top of Book (TOB)

Tier credits will be provided for TSX-listed securities trading equal to or greater than $1.00. A Trader ID or a Trader ID Group with orders that reach the stated target percentage of time at the NBBO on a per symbol basis will be awarded fee credits based on all of their eligible passive trades on that symbol for the month.  Eligible passive trades means passives trades excluding intentional crosses, registered unintentional crosses, odd-lot trades, flat fee trades and dark trading volumes. 

Non Market Makers

 

 

Passive Fee

Current Fee

Equal to or greater than $1.00

$0.0018

New Fee - Tier 1

Equal to or greater than $1.00

>=15% TOB (NBB or NBO) on either side – average for the month                                               

$0.0017

New Fee - Tier 2

Equal to or greater than $1.00

>=15% TOB (NBB or NBO) on each side or >=30% in total for both sides combined – average for the month

$0.0016

 

Market Makers

 

 

Passive Fee

Current Fee

Equal to or greater than $1.00

$0.0016

New Fee - Tier 1

Equal to or greater than $1.00

>=15% TOB (NBB or NBO) on either side – average for the month                                               

$0.0015

New Fee - Tier 2

Equal to or greater than $1.00

>=15% TOB (NBB or NBO) on each side or >=30% in total for both sides combined – average for the month

$0.0014

Percentage time at the NBB/NBO = (total amount of time at the NBB/NBO) divided by (the total amount of trading time for the month).  Trading time is measured from 9:30 am EST to 4:00 pm EST (6.5 hours).

Quick link:

Trading Fee Schedule

If you have any questions or require further information, please contact:

trading@thecse.com
416.367.7347
www.thecse.com

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