Proposed & Recent Changes

The proposed amendment to introduce two new order books (Alpha-X^TM and Alpha DRK^TM) has been approved.

The proposed amendment to amend Alpha's order processing delay (from randomized to static) has been approved.

Alpha is publishing this voluntary Consultation Paper to solicit initial feedback regarding its proposal to permit the trading of digital assets on TSX Alpha Exchange.

TSXV is withdrawing its application regarding its proposed amendments to the TSX Venture Exchange Rule Book to introduce allocation priority for price setting orders

TSX is withdrawing its application regarding its proposed amendments to the TSX Rule Book to introduce allocation priority for price setting orders.

Alpha is correcting certain clerical errors contained in the Notice of Proposed Amendments and Request for Comment published on March 2, 2023 relating to the proposed introduction of two new order books (Alpha-X^TM and Alpha DRK^TM) and changes to Alpha's order processing delay.

Alpha is proposing to introduce two new order books (Alpha-X^TM and Alpha DRK^TM) and make changes to Alpha's order processing delay.

Proposed amendments to introduce (i) Providing Dark Liquidity Functionality, and (ii) a Do Not Trade Self-Trade Prevention Order Feature on TSX and TSXV have been approved.

TSXV has proposed to introduce (i) Providing Dark Liquidity Functionality, and (ii) a Do Not Trade Self-Trade Prevention Order Feature.

TSX has proposed to introduce (i) Providing Dark Liquidity Functionality, and (ii) a Do Not Trade Self-Trade Prevention Order Feature.

TSXV has proposed amendments to the TSX Venture Exchange Rule Book to introduce allocation priority for price setting orders.

TSX has proposed amendments to the TSX Rule Book to introduce allocation priority for price setting orders.

Housekeeping Amendments to Alpha Exchange Trading Policy Manual have been approved to correct typographical errors, correct formatting errors, and standardize terminology.

Housekeeping amendments have been approved to the TSX Venture Exchange Rule Book to correct typographical errors, correct formatting errors, and standardize terminology.

Housekeeping amendments have been approved to the TSX Rule book to The Amendments are being made to correct formatting errors and standardize terminology.

Proposed amendments to the TSX Rule Book and TSXV Rule Book to introduce conditional orders have been approved.

Proposed amendments to the TSXV Rulebook to introduce definitions for TSXV Closing Price, TSXV Last Ask Price, and TSXV Last Bid Price, have been approved.

The introduction of new definitions for TSX Closing Price, TSX Last Ask Price, and TSX Last Bid Price, to the TSX Rule Book has been approved.

TSX has proposed amendments to the TSX Rule Book to introduce definitions for TSX Closing Price, TSX Last Ask Price, and TSX Last Bid Price

TSXV has proposed amendments to the TSXV Rule Book to introduce definitions for TSXV Closing Price, TSXV Last Ask Price, and TSXV Last Bid Price

Proposed amendments to the TSX Rule Book and TSXV Rule Book to introduce conditional orders.

The introduction by TSX and TSXV of an alternative closing price, which will set the last sale price for the day on the applicable exchange in the event of an outage or technical failure on such exchange, has been approved.

Proposed amendments to allow anonymous broker preferencing against passive dark orders have been approved.

Amendments to modernize the Market-On-Close facility, providing added transparency and improved client experience, have been approved.

TSX and TSXV propose introducing an alternative closing price, which will set the last sale price for the day on the applicable exchange in the event of an outage or technical failure on such exchange.

Proposed amendments to the TSX Rule Book to enable posting for trading sustainable bonds on TSX have been approved.

Proposed amendments to allow anonymous broker preferencing against passive dark orders.

Withdrawal of proposed enhancements to existing options available to participants for complying with the Order Protection Rule.

Proposed amendments to modernize the Market-On-Close facility, providing added transparency and improved client experience.

Housekeeping amendments have been approved to the TSX Venture Exchange Rule Book to (i) permit trades in a Special Trading Session where the Last Sale Price is not a valid price increment by rounding up to the nearest valid price increment, and (ii) delete the requirement to obtain TSX Venture Exchange ("TSXV") approval in respect of ownership of a significant equity interest of a TSXV member and replace it with a notice requirement.

TSX has proposed amendments to the TSX Rule Book to enable posting for trading Sustainable Bonds on TSX.

A housekeeping amendment has been approved to the TSX Rule Book to permit trades in a Special Trading Session where the Last Sale Price is not a valid price increment by rounding up to the nearest valid price increment..

Housekeeping amendments have been approved to the TSX Venture Exchange Rule to replace the requirement for Participating organizations, to obtain approval from TSX Venture for change in control transactions with a requirement that Participating organizations provide TSX Venture with prior notification of a change in control transaction, and to fix a typographical error.

Housekeeping amendment has been approved to the Alpha Exchange Trading Policy Manual to remove the requirement to provide 30 days' notice of any fee changes.

Housekeeping amendments have been approved to the TSX Rule Book to replace the requirement for Participating Organizations, to obtain approval from TSX for change in control transactions with a requirement that Participating Organizations provide TSX with prior notification of a change in control transaction, delete unnecessary forms attached to the TSX Rulebook, fix typographical errors, and/or update existing practice.

Proposed changes to implement further enhancements to existing options available to participants for complying with the Order Protection Rule have been approved for TSX and TSX Alpha Exchange Inc.

Proposed changes to implement further enhancements to current dark trading functionality by adding a new midpoint pegged order type, the Contra Midpoint Only Plus (CMO+) order have been approved for TSX.

TSX and TSXV are introducing a third execution option known as ‘SDL Plus' which will provide participants with increased opportunity to capture price-improving dark liquidity when executing cross-seeking routing strategies. Comments on TSX trading functionality are due April 15, 2019.

TSX and TSXV are introducing further enhancements to existing options available to participants for complying with the Order Protection Rule. Comments on TSX trading functionality are due March 25, 2019.

Proposed changes have been approved to introduce Closing Offset Orders and include Dark Limit Orders in the closing auction on TSX and TSXV.

TSX and TSXV are introducing further enhancements to current dark trading functionality by adding a new midpoint pegged order type, the Contra Midpoint Only Plus (CMO+) order. Comments on TSX trading functionality are due March 4, 2019.

Proposed introduction of the Closing Offset Order Type, which will provide further opportunity to supplement liquidity within the closing match as well as the proposed inclusion of Dark Limit Orders in the closing auction. Comments are due December 3, 2018.

Proposed introduction of the TSX Alpha Liquidity Provision (ALP) program, which will provide TSX Alpha Exchange Members with an opportunity to earn reductions in their per share passive fee rate for trading on Alpha when meeting the specified volume thresholds. Comments are due October 1, 2018.

Withdrawal of proposed amendments regarding the trading of US-listed securities on TSX International Board.

Proposed changes have been approved to implement the Contra Midpoint Only (CMO) order type on TSX and TSXV.

TSX and TSXV are introducing further enhancements to current dark trading functionality by adding a new midpoint pegged order type, the Contra Midpoint Only (CMO) order, that will allow users to specify that the order is executable only against other similarly designated dark midpoint pegged orders. Comments on TSX trading functionality are due December 29, 2017.

Proposed amendments have been approved to the TSX Rule Book to implement enhancements to the TSX Market Making Program

Proposed amendments have been approved to the TSXV Rule Book to implement several enhancements to the current opening auction and on-book dark functionality on TSXV.

Proposed amendments have been approved to the TSX Rule Book to implement several enhancements to the current opening auction and on-book dark functionality on TSX.

Housekeeping amendments have been approved to the TSX Venture Exchange Rule to conform to a move by the Canadian securities industry to a cycle where settlement occurs two trading days after the trade date, and to fix typographical errors.

Housekeeping amendments have been approved to the TSX Rule Book to conform to a move by the Canadian securities industry to a cycle where settlement occurs two trading days after the trade date, and to fix a typographical error.

Amendments are being proposed to the TSX and TSXV Rule Books to implement several enhancements to the current on-book dark trading functionality on TSX and TSXV. Comments are due May 29, 2017.

Amendments are being proposed to the TSX and TSXV Rule Books to introduce a new 'Limit on Open' order type for use in the opening auction. This order type will allow participants to specify that a limit order is only eligible to participate in the opening auction. Comments are due May 29, 2017.

Housekeeping amendments have been approved to the TSX Rule Book to conform Rule 4-305 Sales from Control Block Through the Facilities of the Exchange to the issuer rules in Part VI, Section M of the TSX Company Manual.

TSX has proposed amendments to the TSX Rule Book to implement changes to TSX's market making program. Related changes to marketplace functionality are also being proposed. Key changes include addition of a secondary market maker to TSX-listed equity securities (excluding ETFs) and improvements to the Minimum Guaranteed Fill (MGF) facility.

TSX has proposed amendments to the TSX Rule Book in connection with its planned introduction of the 'TSX International Board', a separate board of TSX that will post for trading certain US-listed equity securities in Canadian dollars. Related changes to trading functionality to accommodate trading of US-listed securities are also being proposed.

Housekeeping amendments have been approved to the TSX Alpha Exchange Trading Policy to conform to the final guidance published by the Investment Industry Regulatory Organization of Canada ("IIROC") requiring the establishment and operation of price thresholds by all Canadian marketplaces.

The approved changes to Post Only functionality will extend the use of the Post Only feature to dark orders, thereby allowing a dark order to be posted on TSX and TSXV without trading as an active order. The Post Only feature will be available to dark executions during the regular continuous trading session on TSX and TSXV.

Amendments have been approved to the TSX Venture Exchange Rule Book to implement the following enhancements to the Market-on-Close ("MOC") facility: i) a second MOC imbalance will be calculated and broadcast in the event of a delay of the closing call due to the invocation of the price movement extension; ii) following the broadcast of the second MOC imbalance, MOC limit orders may be entered in the MOC book on the opposite side of the second MOC imbalance; and iii) MOC limit orders that are not included in the first MOC imbalance (and offsetting MOC limit orders entered between 4:00 and 4:10 p.m.) may be cancelled.

Amendments have been approved to the TSX Rule Book to implement the following enhancements to the Market-on-Close ("MOC") facility: i) a second MOC imbalance will be calculated and broadcast in the event of a delay of the closing call due to the invocation of the price movement extension; ii) following the broadcast of the second MOC imbalance, MOC limit orders may be entered in the MOC book on the opposite side of the second MOC imbalance; and iii) MOC limit orders that are not included in the first MOC imbalance (and offsetting MOC limit orders entered between 4:00 and 4:10 p.m.) may be cancelled.

Amendments have been proposed to the Toronto Stock Exchange and TSX Venture Exchange Rule Book to (a) reflect the following enhancements to the Market-on-Close ("MOC") facility: i) a second MOC imbalance will be calculated and broadcast in the event of a delay of the closing call due to the invocation of the price movement extension; ii) following the broadcast of the second MOC imbalance, MOC limit orders may be entered in the MOC book on the opposite side of the second MOC imbalance; and iii) MOC limit orders that are not included in the first or second MOC imbalance may be cancelled subject to the time constraints set by the applicable exchange, and (b) housekeeping changes to references to determining the availability of MOC for specified securities, and cancellation or modification of Limit-On-Close orders once the imbalance has been published.

Amendments have been approved to the TSX Venture Exchange Rule Book to implement a new ‘Long Life' order that will receive priority over other orders but will be committed to a minimum resting time, and to allow specialty price crosses on TSXV as are currently available on TSX.

Housekeeping amendments have been approved to the TSX Alpha Exchange Trading Policies to provide for consistency with amendments that the Investment Industry Regulatory Organization of Canada has made to UMIR to accommodate trading on unprotected lit marketplaces.

Housekeeping amendments have been approved to the TSX Rule Book to provide for consistency with amendments that the Investment Industry Regulatory Organization of Canada has made to UMIR to accommodate trading on unprotected lit marketplaces.

Amendments have been approved to the TSX Rule Book to implement a new Long Life order that will receive priority over other orders but will be committed to a minimum resting time, and to provide for the auto-execution of odd lots at the National Best Bid/Offer.

TSX has proposed amendments to the TSX Rule Book to implement a new Long Life order that will receive priority over other orders but will be committed to a minimum resting time, and to provide for the auto-execution of odd lots at the National Best Bid/Offer.

TSX Venture Exchange has proposed amendments to the TSX Venture Exchange Rule Book to implement a new ‘Long Life' order that will receive priority over other orders but will be committed to a minimum resting time, and to allow specialty price crosses on TSXV as are currently available on TSX.

Amendments have been approved to the TSX Alpha Exchange Trading Policies to facilitate the introduction of an innovative trading model that will include the application of an order processing delay ("speed bump") for orders that have the potential to remove liquidity from the order book, a minimum size requirement for Post Only orders, and the provision of rebates for active order flow via implementation of an inverted maker/taker fee model. Other changes are also being made that are intended to simplify and streamline current Alpha offerings. An updated Order Types and Functionality Guide, highlighting changes necessary to implement the Amendments, provides additional detail.

Amendments have been proposed to the TSX Alpha Exchange Trading Policies to facilitate the introduction of an innovative trading model that will include the application of an order processing delay ("speed bump") for orders that have the potential to remove liquidity from the order book, a minimum size requirement for Post Only orders, and the provision of rebates for active order flow via implementation of an inverted maker/taker fee model. Other changes are also being proposed that are intended to simplify and streamline current Alpha offerings. An updated Order Types and Functionality Guide, highlighting changes necessary to implement the Proposed Amendments, provides additional detail.

Amendments have been approved to the TSX Venture Exchange Rule Book to: (i) remove the board lot volume restriction for MOC and Limit-on-Close ("LOC") orders (MOC and LOC orders will be accepted into the MOC book with board lot, mixed lot and odd lot volumes); (ii) allow LOC order entry prior to the imbalance dissemination; (ii) allow MOC Limit Orders that do not contribute to the MOC Imbalance at the time of broadcast to be cancelled after the MOC Imbalance is broadcast; (iii) revise the definition of "MOC Imbalance" in order to reflect the fact that In addition to MOC orders, LOC orders that are priced equal to or more aggressive than the TSXV BBO mid-point at the time of the calculation will be considered when determining the MOC imbalance; and (iv) clarify that Rule c.2.55(2)(c) is intended to refer to MOC Limit Orders that are not included as part of the MOC Imbalance broadcast.

Amendments have been approved to the TSX Venture Exchange Rule Book to: (i) remove the board lot volume restriction for MOC and Limit-on-Close ("LOC") orders (MOC and LOC orders will be accepted into the MOC book with board lot, mixed lot and odd lot volumes); (ii) allow LOC order entry prior to the imbalance dissemination; (ii) allow MOC Limit Orders that do not contribute to the MOC Imbalance at the time of broadcast to be cancelled after the MOC Imbalance is broadcast; (iii) revise the definition of "MOC Imbalance" in order to reflect the fact that In addition to MOC orders, LOC orders that are priced equal to or more aggressive than the TSX BBO mid-point at the time of the calculation will be considered when determining the MOC imbalance; and (iv) clarify that Rule 4-902(2)(d) is intended to refer to MOC Limit Orders that are not included as part of the MOC Imbalance broadcast.

Amendments have been proposed to the Toronto Stock Exchange and TSX Venture Exchange Rule Book to remove the board lot volume requirement for Market-on-Close ("MOC") orders and permit MOC Limit orders to be entered, cancelled and modified in the MOC Book on each trading day from 7:00 a.m. until the time the MOC Imbalance is broadcast.

TSX is seeking public comment on the following Proposed Changes to decrease the minimum volume required for the Minimum Quantity instruction to be accepted from 20 to 5 board lots for Dark Midpoint orders with a Minimum Quantity instruction.

TSX and TSX Venture Exchange are seeking public comment on the following Proposed Changes to (i) enhance self-trade order features on TSX and TSXV and (ii) accept mixed lot and odd lot volumes for specialty priced crosses on TSX.