October 6, 2025
Equities Notice 2025-038
TMX Equity Trading Notice
REMINDER: Implementation Details for the 2025 Q4 Amendments
TMX Market Operations would like to remind all clients of the upcoming 2025 trading amendments to the Toronto Stock Exchange ("TSX"), TSX Venture Exchange ("TSXV"), and TSX Alpha Exchange ("TSXA"). These amendments are scheduled to be available in our production environment effective November 3, 2025 and the implementation details can be found as follows:
| Enhancements | Markets | Impact | Reference Notice |
| Alpha Post Only Minimum Size Requirement | Alpha |
- NO impact on Market Data feeds and FIX Order Entry
|
Equities Notice 2025-036 |
| Market on Open (MOO) | TSX and TSXV |
- Binary Level 1 and 2
- Broadcast
- FIX
- QRTMD Level 1 and 2
|
Equities Notice 2025-026 |
| Market on Close (MOC) | TSX and TSXV |
- Binary Level 1 and 2
|
Equities Notice 2025-029 |
Please note the Market on Open enhancement has received regulatory approval for both TSX and TSXV. The Alpha Minimum Post Only size requirement continues to be subject to regulatory approval. The latest specifications are available on the TMX Webstore.
The amendments are currently available in our Gateway Testing Environment.
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