For Immediate ReleaseJanuary 26, 2017
Toronto – Canadian Securities Administrators (CSA) today published final amendments to National Instrument 23-101 Trading Rules, which lower the cap on active trading fees for securities that are listed on a Canadian exchange, but not listed on a U.S. exchange (non-inter-listed securities).
The amendments cap active trading fees for non-inter-listed securities at $0.0017 per security traded for an equity or per unit traded for an exchange-traded fund, if the execution price of the security or unit traded is greater than or equal to $1.00.
Active trading fees for securities that trade on both Canadian and U.S. exchanges (inter-listed securities) will continue to be capped at $0.0030 per share or unit traded at or above $1.00.
“These amendments are intended to address concerns raised regarding trading fee costs, specifically that the trading fee should reflect the value of the stocks traded, while also addressing liquidity needs in the Canadian marketplace,” said Louis Morisset, Canadian Securities Administrators Chair and President and CEO of the Autorité des marchés financiers.
The current cap of $0.0004 per share or unit price will remain in place for both inter-listed and non-inter-listed securities and units trading below $1.00.
If all ministerial approvals are obtained, the amendments will come into effect on April 10, 2017.
The notice can be found on CSA members’ websites.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.
Kristen Rose Ontario Securities Commission 416-593-2336
Nicole Tuncay Alberta Securities Commission 403-297-4008
Alison Walker British Columbia Securities Commission 604-899-6713
Sylvain Théberge Autorité des marchés financiers 514-940-2176
Jason (Jay) Booth Manitoba Securities Commission 204-945-1660
Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021
Jane Anderson Nova Scotia Securities Commission 902-424-0179
Janice Callbeck Office of the Superintendent of Securities, P.E.I. 902-368-6288
John O’Brien Office of the Superintendent of Securities, Newfoundland and Labrador 709-729-4909
Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Jeff Mason Nunavut Securities Office 867-975-6591
Tom Hall Office of the Superintendent of Securities, Northwest Territories 867-767-9305
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160
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