The Canadian Securities Administrators (CSA) have extended the comment period for proposed amendments to National Instrument 23-101 Trading Rules, aiming to lower the active trading fee cap for U.S. Inter-listed Securities. The CSA is soliciting feedback on alternative fee caps, including CAD 0.0010, CAD 0.0014, and CAD 0.0017, or other suggestions. Previously received comments are accessible on the websites of the Alberta Securities Commission, Ontario Securities Commission, and Autorité des marchés financiers.
The Canadian Securities Administrators (CSA) published Staff Notice 23-334 extending the comment period on proposed amendments to National Instrument 23-101 Trading Rules that would lower the active trading fee cap charged by marketplaces for trades in securities listed on both a Canadian recognized exchange and a U.S. registered national securities exchange (U.S. Inter-listed Securities). The consultation deadline has been extended from March 24, 2025 to July 2, 2025.
The CSA is seeking feedback in particular on alternative fee caps of CAD 0.0010 (without foreign exchange rate consideration), CAD 0.0014 (USD 0.0010 x 1.44), CAD 0.0017 (the current cap for non-U.S. Inter-listed Securities), or another alternative. Previously received comments are available on the websites of the Alberta Securities Commission, the Ontario Securities Commission and the Autorité des marchés financiers, and new submissions will be posted when available.
The Canadian Securities Administrators adopted final amendments to its trading rules to lower and harmonize the maximum active trading fee for executing orders in U.S. inter-listed securities priced at CAD 1.00 or more to CAD 0.0017, and will monitor the impact for potential further changes. In a related move, the Canadian Investment Regulatory…
2025-01-23 Canadian Securities Administrators Canada
The Canadian Securities Administrators (CSA) issued a Notice and Request for Comment on proposed amendments to National Instrument 23-101 Trading Rules to maintain competitiveness of Canadian trading in U.S. inter-listed securities. The proposals align Canadian trading fee caps with U.S. caps for securities priced at CAD 1.00 or more, following…
2026-06-22 Canadian Securities Administrators Canada
The Canadian Securities Administrators and CIRO have postponed by one year final fee cap and tick-size changes for U.S. inter-listed securities. Rules that were set to start on November 2, 2026 will now take effect on November 1, 2027 to align with the SEC's revised timetable. The CSA is also considering whether further changes are needed in…