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Table of Contents
Canadian National Stock Exchange (CNSX)
The Canadian National Stock Exchange provides an alternative to traditional exchanges as it has lower costs and capitalization requirements than the other primary markets in Canada.
Homepage
Currency: Canadian Dollar (CAD)
Trading Hours & Calendar
Trading Hours - 09:30 - 16:00
Holiday Calendar - The CNSX follows the Canadian holiday calendar along with other Canadian exchanges, as listed here.
Trade Execution Summary
CNSX utilizes the same underlying technology for its primary market as it does for it's alternative trading venue PURE.
Lit Order-types
- Limit Buy/Sell/Short (DAY/IOC)
- Limit Buy/Sell/Short Reserve (DAY)
- Market Buy/Sell/Short (DAY/IOC)
- Stop Limit Buy/Sell/Short (DAY)
- Market on Close Buy/Sell/Short (DAY)
Alternative Trading Systems (ATS)
Basic Market Rules
- Lot Size varies by price as follows:
| Price Range | Board Lot |
|---|---|
| < $0.10 | 1000 |
| $0.10 to $1 | 500 |
| > $1 | 100 |
- Tick Size varies by price as follows:
| Price Range | Board Lot |
|---|---|
| < $0.50 | $0.005 |
| >= $0.50 | $0.01 |
- Short Sale Rules - Short sell orders must be properly marked. There is no locate requirement intraday.
- Circuit Breakers - A market-wide trading halt will occur when the circuit breakers defined here are triggered. Tied primarily to movement of the DowJones Industrial Average, on days where US markets are closed, the S&P/TSX Composite will be used as reference.
Auction Mechanisms
The auction mechanism used by CNSX is similar to that on the TSX and TSX-V markets in Canada. As such you can review that mechanism here.
Open
Pre-opening phase is from 08:00:00 - 09:30:00, during this phase orders can be entered and cancelled but will not be matched. Matching takes place at the open (09:30:00).
Close
Market on Close (MOC) orders can be entered anytime before 15:40:00 after which time they cannot be cancelled and will participate in the closing print at 16:00:00.