The Montréal Exchange Inc. (MX) is launching an initiative designed to boost retail investor participation in the derivatives markets by offering incentives to firms that facilitate retail trading.
Firms that qualify for enrolment will be offered fee rebates that aim to reduce their trading and clearing fees to zero for equity, ETF and index options trades executed through the new program. The exchange said the program aims to “promote the growth and accessibility of the Canadian derivatives market for retail investors.”
To qualify for the fee incentive program, firms must be discount brokers, or other retail-focused firms, that agree to charge retail clients a maximum fee of $1 per contract, including execution and clearing costs, for options trades.
The deadline to apply for the program’s launch is Sept. 30.