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Notice 2008-002 - New Trading Fee Schedule

CNQ Notice 2008-002
October 3, 2008


New Trading Fee Schedule

CNQ will implement a new trading fee schedule concurrent with the migration of trading in CNQ listed securities to the X-Stream trading system, scheduled for October 17, 2008. The new schedule introduces volume based fees, similar to those charged in other marketplaces, including Pure Trading. It also includes new trading fee credits for Market Makers in their stocks of responsibility.

Trading Fees



Equity Securities (shares, warrants, rights)


Security Price       Fee per Share       Maximum Fee        Minimum Fee
$1.00 or above            $0.0014                    $50.00                        $1.00
Below $1.00                $0.0006                    $50.00                        $1.00 



  • Odd lot trades will be charged at the same rate per side with the maximum fee per side reduced to $0.50 and with no minimum fee.

  • Crosses will be charged a flat fee of $9.75 per trade 

  • Designated Market Makers’ passive orders, in the stocks for which they have responsibility, will receive a credit of $.0003 per share per trade for stocks trading below $1.00 and $.0007 for stocks trading at or above $1.00, with a maximum credit of $25 per trade. This credit will also be applied to any and all Market Maker odd lot trades in those stocks to a maximum of $.50 per trade.


Debt Securities
A flat fee will be charged at a rate of $9.75 per side per trade.

Access fees
There is no monthly access fee for dealers participating in CNQ’s Listed Market.


For further information please contact:
Mark Faulkner,
Director, Listings & Regulation
416.572.2000 x2305 or
Mark.Faulkner@cnq.ca

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