CNSX Markets Inc. is rolling out a pilot program which lowers fees for securities listed on the TSX Venture exchange that are posted for trading on Pure Trading, the company announced Friday.

The new fees are effective April 1.

No fee will be charged to the passive side of each trade and a flat fee of 50¢ will be applied to each “same day” active order resulting in a trade, no matter how many passive orders it interacts with. These fees will be capped at a maximum of $5,000 per month per participating dealer. Each dealer may instead elect in advance to pay a fee of $3,000 per month for the right to remove an unlimited amount of liquidity.

Following consultation with the Canadian trading community, CNSX Markets says it has designed the new fees to balance the needs of liquidity providers and consumers. The pilot program will be closely monitored with customers in the coming weeks. If successful, this approach will be applied to trading in TSX-listed securities trading under $1 per share. At present there will be no changes to the current fees for trading TSX-listed securities that were effective as of March 2.

IE