Canadian Securities Exchange (CSE)

Canadian Securities Exchange (CSE)

November 13, 2014 16:00 ET

Notice 2014-007 - CSE Trading Fee Schedule

TORONTO, ONTARIO--(Marketwired - Nov. 13, 2014) - The Canadian Securities Exchange ("CSE") is pleased to announce changes the elimination of fees for Market Makers in their stocks of responsibility.

The following trading fee schedule will be effective November 17, 2014.

For CSE listed securities (including rights and warrants)

Price per Share Active Fee Passive Fee
Securities Trading at $1.00 and above $0.0002 $0.0002
Securities Trading Between $0.10 and $0.99 $0.00008 $0.00008
Securities Trading for less than $0.10 $0.00004 with a cap of $15 $0.00004 with a cap of $15

For TSX-V listed securities (including rights and warrants)

Price per Share Active Fee Passive Fee
Securities Trading at $1.00 and above $0.0002 $0.0002
Securities Trading Between $0.10 and $0.99 $0.00008 $0.00008
Securities Trading for less than $0.10 $0.00004 with a cap of $15 $0.00004 with a cap of $15

For TSX listed securities (including rights and warrants)

Price per Share Active Fee Passive Rebate
Securities Trading at $1.00 and above $0.0025 $0.0020
Securities Trading for less than $1.00 $0.0004 $0.0001

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.

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

Fees to Take Liquidity $0.09
Rebates for Providing Liquidity $0.07

For CSE listed Government Bonds

A flat fee of $9.75 per side per trade

For Market Maker Fees

Market Makers will be neither charged a fee nor earn a rebate for their trades in assigned securities until further notice.

For Odd-lot Trading

All odd-lots will be charged a fee of $0.0002 per share. Market Makers will be neither charged a fee nor earn a rebate for odd-lot trades.

In General

Each dealer will be charged a basic monthly participation fee of $500.

The active side of a trade is the order that takes liquidity from the CSE and the passive side of a trade is the order that provides liquidity to the CSE.

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 will be no minimum monthly trading fee and it is expected that some dealers will be earning a rebate from the CSE each month. 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.

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