The Toronto Stock Exchange (TSX) on Tuesday announced a set of planned cuts to its trading fee structure for both the TSX and the TSX Venture Exchange (TSXV), which will take effect on May 1, subject to regulatory approval.
Among other things, the proposed changes include cuts to per share active fees, and passive rebates for continuous trading on TSX and TSXV (not including inter-listed equities).
The changes would reduce fees by 35%, the TSX says in a notice, and rebates by 42%. The fees for the TSX's minimum guaranteed fill (MGF) facility will also be cut by approximately 45%.
The exchange also proposes changes to the fee model for the TSX Alpha Exchange that "will better align the rates on TSX Alpha for low-priced securities with those charged by competing inverted markets," the TSX says.
The TSX aims to make its model, "consistent with the amendments to the trading fee caps" by the Canadian Securities Administrators (CSA), while also delivering on its commitment to help reduce maker-taker fees, the exchange says.