May 25, 2023
Equities Notice 2023-019
TMX Equity Trading Notice
TMX Equities Announces Amendments to the Alpha and TSX Trading Fee Schedules
TMX Equities is advising clients that the trading fee schedules for each of TSX Alpha Exchange ("Alpha") and Toronto Stock Exchange ("TSX") will be amended, effective June 1, 2023. Please see below for a summary of the amendments made.
Alpha Fee Changes
Alpha has amended its trading fee schedule in both the over and under $1 trading categories, as applicable, as follows:
Alpha Continuous Trades (Equity & ETFs):
|
Where trade price is <$1.00 |
||
|
Current Rebate*/Fee |
Rebate/Fee Effective June 1, 2023 |
|
|
Removing liquidity |
||
|
Retail |
($0.0004) |
($0.0007) |
|
All other |
($0.0001) |
($0.0007) |
|
Providing Liquidity |
||
|
Post Only |
$0.0007 |
$0.0011 |
|
Non-Post Only |
$0.0005 |
$0.0011 |
|
ETF Unintentional Cross Rates |
$0.0001 per share |
Free |
*The value in brackets represents rebates.
Odd Lot Fill (Equity & ETFs):
|
Current Fee (applies where trades are auto-executed against the Odd Lot Dealer during Post-Open Continuous trading) |
Fee Effective June 1, 2023 (applies to all odd-lot trades) |
|---|---|
|
$0.0005 per share where trade price is $1 or over |
Free |
|
$0.00025 per share where trade price is under $1 |
Free |
The updated Alpha Trading Fee Schedule will be made available here.
TSX Fee Changes
TSX has amended its trading fee schedule with respect to the fees charged for TSX Post-Open Continuous DRK Trades in ETFs as follows:
Dark Order Volume (excl. CMO+ and Conditional) - ETFs:
|
Where trade price per share is: |
||||||||
|
$1.00 - $4.99 |
≥$5.00 |
$1.00 - $4.99 |
≥$5.00 |
$1.00 - $4.99 |
≥$5.00 |
$1.00 - $4.99 |
≥$5.00 |
|
|
Current Fees |
Fees Effective June 1, 2023 |
Current Cap on Fees |
Cap on Fees Effective June 1, 2023 (Max / trade / side) |
|||||
|
Removing: |
||||||||
|
-with SDL or pegged IOC/FOK |
$0.0002 |
$0.0004 |
$0.0001 |
$0.0003 |
$5 |
$5 |
$5 |
$5 |
|
-with other Dark order |
$0.0010 |
$0.0010 |
$0.0001 |
$0.0003 |
No cap |
No cap |
$5 |
$5 |
|
-with other Dark order (Retail) |
$0.0010 |
$0.0010 |
$0.0001 |
$0.0003 |
No cap |
No cap |
$5 |
$5 |
|
Providing: |
||||||||
|
-with PDL order |
$0.0004 |
$0.0008 |
$0.0001 |
$0.0003 |
$10 |
$10 |
$5 |
$5 |
DRK ETF Unintentional Cross Rates:
|
Current Fee |
Fee Effective June 1, 2023 |
|
Unintentional crosses are billed according to fees for Post-Open Continuous trades. |
For post-open continuous DRK Trades in ETFs, there is no charge for unintentional crosses. |
The updated TSX Trading Fee Schedule will be made available here.
For more information regarding this notice, please contact the Account Management Team.
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