TSX Buy-Ins

In order to support CDS in cases where a seller has failed to deliver a security following a trade, TSX has developed a special "Buy-In" facility to locate alternate sellers capable of immediately delivering the security, therefore enabling CDS to quickly and efficiently clear the failed position.

Buy-In Procedures

On a daily basis, CDS provides a list of securities that Participating Organizations have failed to make delivery on.

1:30 PM (1st Cycle) - TSX receives and posts the preliminary Buy-In list. At this point, other Participating Organizations have the opportunity to provide liquidity by submitting Buy-In orders.

2:45 PM (2nd Cycle) - TSX receives and posts the Final Buy-In list. This list identifies the remaining securities that still need to be delivered.

3:00 PM - Cut-off for accepting Buy-In orders

Upon completion of the Buy-In period, TSX allocates fills on an equal by member basis to the sellers and calculates a price. This price is based on the last board lot trade before 3:00 plus a premium.

Buy-In Price = Last Board lot Sale Price + Premium

TSX manually enters these trades that are cleared by CDS on a same-day basis. Between 3:20 and 3:40, TSX Trading Services will provide transaction confirmations. This process efficiently clears failed delivery trades and helps to maintain overall market integrity.

For additional information about Buy-Ins or to participate in a Buy-In, please contact Trading Services.

Updated: July 19, 2024 at 2:44 p.m.
Download: Final List

Market Description Symbol Quantity
TSX CIBC CDA S-T BOND ETF CM UN CSBI 20
TSX RBC TARGET 27 US CRP BD USD UN RUQP.U 29
TSX GUARDIAN INTL EQ SEL FD ETF UN GIES 67
TSX UNITED CORPS LTD 1ST PFD UNC.PR.A 85
TSX ISHS 20+ US T-BD IX ETF USD UN XTLT.U 132
TSX COMMERCE SPLIT CLASS I PREF YCM.PR.A 206
TSX ISHARES CORE MSCI EAFE ETF USD XEF.U 1,179
TSX CI US MIDCAP DIV ETF NONHED UN UMI.B 1,659
TSXV RHYOLITE RESOURCES LTD COM RYE 17,109