January 25, 2022
Equities Notice 2022-001

TMX Group

TMX Equity Trading Notice

TMX Equities Announces Fee Holiday and Reduction in TSX DRK Conditionals Fees

TMX Equities is pleased to announce a reduction in TSX DRK Conditionals fees, which provides the most competitive Conditional trade pricing in Canada. There will also be a "fee holiday" from February 1, 2022 to March 31, 2022, during which all TSX and TSXV Conditional trades will be free with no fees charged.

Conditionals Fee Schedule

Stock Price

Current Conditionals Fee

New Conditionals Fee


$ 0.0001

$ 0.00005

Equities - $1.00–$4.99

$ 0.0005

$ 0.0003

Equities ≥$5.00

$ 0.0010

$ 0.0008

ETFs ≥$1.00

$ 0

$ 0

Note that all Conditional trades will be charged the same fee, regardless of trade size.

TMX is also pleased to announce that we have received regulatory approval to introduce the revised fees for trading on Toronto Stock Exchange and TSX Venture Exchange listed securities. The new competitive fees for Conditional Orders will take effect on February 1, 2022. The updated fee schedules can be found here for TSX and TSXV.

For more details, please see Equities Trading Notice 2021-022 announcing the launch of TSX Conditional orders, the Equities Trading Notice 2021-023 with the original TSX Conditionals Fee Schedule, and the landing page for this initiative - TSX DRK Conditionals.

Additionally, TMX would like to announce the extension of our Conditional Order enforcement evaluation period to March 31, 2022. In TMX's Notice of Proposed Amendments and Request for Comments (OSC Notice), we announced a 90-day assessment period to allow time to analyze usage and patterns of Conditional orders to better determine appropriate thresholds for the enforcement and scoring system. This extension will allow TMX additional time and data to determine these thresholds.

For more information regarding this notice, please contact the Account Management Team.