August 10, 2021
Equities Notice 2020-015

TMX Group

TMX Equity Trading Notice

Ability to Cancel Orders During 4:00 - 4:10pm

TMX is pleased to announce that we will be introducing the ability to cancel orders between 4:00pm - 4:10pm on symbols that are closed for trading at that time. Cancels on orders on symbols that are still in Price Movement Extension ("PME") will continue to be rejected, consistent with current rules.

From a technical perspective, this means that when the MarketState is "PriceMovementExtension", which occurs between 4:00 - 4:10pm, the following rules will apply:

  • When the StockState is "Authorized", order cancellations will now be allowed on all orders on that stock
  • When the StockState is "AuthorizedPriceMovementDelayed", which means that the closing auction for the symbol has been extended for another 10 minutes during the PME, order cancellations are NOT allowed on that stock, consistent with existing behaviour

This change will be available for testing in GTE effective Friday, August 13, 2021. The ability to cancel during 4:00pm - 4:10pm will launch along with the new MOC model in Production on October 18, 2021.