The TSX Group Inc. is expanding its US$ trading to six energy stocks. he initiative extends US$-based trading to active stocks in the energy sector and the TSX 60.
Six new firms have agreed to participate: EnCana Corp., Imperial Oil Ltd., Ivanhoe Energy Inc., Noranda Inc., Petro-Canada and Talisman Energy Inc.
The TSX says that it will expand its offering of securities available for trading in dual currencies, effective November 1, due to demand from market participants. These securities will be listed and traded in both Canadian and U.S. dollars. The U.S. dollar trading symbol will consist of the Canadian symbol with a “.U” extension.
The exchange says that future listing of additional securities trading in dual currencies will be based on investor and issuer demand, and will be announced through the normal Listings Bulletin process.
As well, the TSX is suspending normal trading fees on all U.S. dollar-based trading. It says this move is designed to “assist TSX participants in marketing and implementing order-routing logic to tap this new liquidity.”