The Toronto Stock Exchange (TSX) is cutting its maker-taker fees once again, the exchange said in an equities trading notice published on Monday.
According to the notice, the TSX is planning to cut its per share active trading fee by 10%, and to reduce the rebates it pays for passive liquidity by 11.5% for high-priced (securities trading for over $1) inter-listed securities. The changes will take effect on June 1.
The TSX also considered cutting its fees for securities that aren’t inter-listed, and for exchange-traded funds (ETFs), the notice says, however regulators’ plans to impose a cap on fees has caused the exchange to change its mind.
“The recent proposal by the Canadian Securities Administrators (CSA) to implement fee caps at reduced levels, which are directionally aligned with our own fee reduction program, defer the need for us to initiate further substantive reductions at this time,” the notice says.
The TSX began reducing its maker-taker fees in June 2015. The cuts have not produced any negative impacts on market quality, the notices says, which contributed to the decision to proceed with another round of cuts.
In addition to cutting its maker-taker fees, the TSX is also planning to cut a variety of other fees, including fees for auto-executed odd lots, fees for the minimum guaranteed fill (MGF) facility, and fees for trades in NEX securities. The exchange will also eliminate the fees for trading in TSX-listed rights, warrants and exchangeables, and will charge standard equities trading fees on these securities instead.
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