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  • Notice 2013-004 – Listing Fee Schedule - Reduced Initial Listing Fee for Currently Listed Companies
    a total of 5 000 with a 2 500 deposit and 2 500 payable prior to the Listing Date Supplemental Listing fee 1 000 A listed company must pay a flat fee to list an additional class of securities payable prior to the Listing Date for the securities Monthly Fee 500 The monthly maintenance fee is due on the first business day of each month the Company is listed The first monthly fee will include the fee for the portion of the month in which the Company was listed In the event of suspension or delisting no portion of the fee will be refunded Application Following a Fundamental Change 10 000 The Issuer resulting from a fundamental change of a Listed Company must make a complete application to qualify for listing Requalification Fee 1 000 A Listed Company which has had its securities suspended from trading will be required to pay a requalification fee in addition to curing the default or breach that gave rise to the suspension Late Filing Fee 25 per day per CNSX Form A Listed Company which has not posted a CNSX form in accordance with Exchange Policy will be required to pay 25 for each full business day the form remains outstanding subject to a maximum of 500 Form 3 Personal Information Forms 200 per individual form Any CNSX Form 3 Personal Information Form PIF submitted by a Listed Company is subject to a fee of 200 payable at the time of submission A PIF submitted by a listing applicant in connection with the application is not subject to this fee B Fees for Listing Structured Products Initial Listing fee 10 000 A non refundable deposit of 2 000 must accompany the Listing Application and the balance of 8 000 is payable prior to the

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2013/07/15/Notice-2013-004-Listing-Fee-Schedule-Reduced-Initial-Listing-Fee-for-Currently-Listed-Companies.aspx (2014-10-22)
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  • Notice 2013-003 - CNSX - Request for Comments – Passive-only Order Type
    or the Exchange will be providing for CNSX Dealers with Gateway Access Agreements a new optional feature that will re price or cancel incoming orders that would otherwise be executable on entry The change will provide the CNSX Dealers with the ability to designate the orders as passive only orders Effective Date The passive only order functionality will be introduced following public comment and OSC approval on the later of I the date that the Exchange is notified that the change is approved II if applicable the date of publication of the notice of approval on the OSC website and III a date designated by the Exchange Rationale CNSX Dealers have requested the ability to re price or cancel orders that would otherwise have to be routed to other marketplaces due to OPR They have also requested the ability to designate particular orders as passive only i e orders that would either be cancelled or re priced to the nearest price increment away from an executable price Both types of functionality are provided by other marketplaces and by third party vendors for order entry on all marketplaces operating in Canada at this time including CNSX Markets and effectively standardize CNSX s offering with other marketplaces A more detailed description of the passive only functionality is as follows Passive Only Re price or Reject Orders can be re priced to the nearest price increment or rejected to ensure that a particular order will be booked or cancelled This feature can be enabled for all orders on a particular client gateway or an order by order basis by the CNSX Dealer Examples Symbol XYZ bid ask on CNSX System is 10 00 10 03 a Incoming order to sell at 10 00 marked passive only The order will be cancelled without trading b Incoming order to sell at 10 00 marked passive only with the re price flag The order will book as a 10 01 offer Impact The order type will provide CNSX Dealers with an additional trading tool at their option Interested parties will simply have to arrange for new network connections to the service There is no requirement to use the feature and there will be no direct impact on any other marketplace or participant as a result of a CNSX Dealer using or not using this new feature Implementation will not require any changes to communications protocols for order entry or market data Risk There is no anticipated increase to systemic risk in the Canadian financial system as a result of the proposed functionality Exchange Compliance The new functionality does not affect Exchange compliance with Ontario Securities law nor will it have a detrimental effect on fair access or the maintenance of a fair and orderly market Consultation The enhancements to the functionality being implemented have been requested by numerous CNSX Dealers and their clients dating back to the original introduction of the Order Protection Rule Although concerns have been expressed in some quarters that the passive only

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2013/06/14/Notice-2013-003-CNSX-Request-for-Comments-Passive-only-Order-Type.aspx (2014-10-22)
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  • Notice 2013-002 - CNSX - Issuer Guidance - Disclosure Obligations
    and clear expectations about what constitutes meaningful disclosure reinforce the CNSX approach that a disclosure based regulatory model for listed companies can be effective with a limited number of prescriptive policies and exchange intervention on an exception basis Our approach therefore to address the concerns about listed companies with operations in emerging markets is consistent with the principles on which all of our policies are based Areas of Concern The Guide identifies eight areas of concern 1 Business and operating environment 2 Language and cultural differences 3 Corporate structure 4 Related parties 5 Risk management and disclosure 6 Internal controls 7 Use of and reliance on experts 8 Oversight of the external auditor A listed company with a governance structure that is appropriate to its circumstances will have identified and addressed these areas of concern This will enable the issuer to provide adequate meaningful disclosure as described in the Guide Listed companies should review the Guide and their own approach to specific risks and tailor both their governance practices and disclosure to address the areas of concern identified in the Guide that are pertinent to them The Role of the Exchange Stock exchanges perform a regulatory function to uphold the quality and integrity of capital market as a whole To ensure that the regulatory requirements for listed companies are effective exchange requirements provide a framework for consistent standardized disclosure Where such requirements and framework already exist in corporate or securities law and regulation we do not believe it is appropriate to burden issuers with additional requirements that will not necessarily provide any measurable benefit to the investing public Following the lead of OSC Staff CNSX Markets does not intend to introduce new requirements for listing applicants or listed companies Instead our listed companies and applicants are encouraged to closely adhere

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2013/05/10/Notice-2013-002-CNSX-Issuer-Guidance-Disclosure-Obligations.aspx (2014-10-22)
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  • Notice 2013-001 - CNSX Markets 2013 Listing Fee Schedule
    Equity Securities Fees for Listing Applicants and Listed Companies Initial Listing fee 12 500 A non refundable deposit of 2 500 must accompany the Listing Application and the balance of 10 000 is payable prior to the Listing Date Supplemental Listing fee 1 000 A listed company must pay a flat fee to list an additional class of securities payable prior to the Listing Date for the securities Monthly Fee 500 The monthly maintenance fee is due on the first business day of each month the Company is listed The first monthly fee will include the fee for the portion of the month in which the Company was listed In the event of suspension or delisting no portion of the fee will be refunded Application following a Fundamental Change 10 000 The Issuer resulting from a fundamental change of a Listed Company must make a complete application to qualify for listing Requalification Fee 1 000 A Listed Company which has had its securities suspended from trading will be required to pay a requalification fee in addition to curing the default or breach that gave rise to the suspension Late Filing Fee 25 per day per CNSX Form A Listed Company which has not posted a CNSX form in accordance with Exchange Policy will be required to pay 25 for each full business day the form remains outstanding subject to a maximum of 500 NOTE This fee will only apply to the CNSX Form 7 Monthly Progress Report until further notice Form 3 Personal Information Forms 200 per individual form Any CNSX Form 3 Personal Information Form PIF submitted by a Listed Company is subject to a fee of 200 payable at the time of submission A PIF submitted by a listing applicant in connection with the application is not subject

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2013/03/26/Notice-2013-001-CNSX-Markets-2013-Listing-Fee-Schedule.aspx (2014-10-22)
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  • Notice 2012-001 - CNSX Markets Inc. Listing Fee Schedule
    Exchange This fee schedule replaces the fee schedule established in 2003 The fees for structured products introduce a new category of listing fees A Equity Securities Fees for Listing Applicants and Listed Companies Initial Listing fee 12 000 A non refundable deposit of 2 000 must accompany the Listing Application and the balance of 10 000 is payable prior to the Listing Date Monthly Fee 500 The monthly maintenance fee is due on the first business day of each month the Company is listed The first monthly fee will include the fee for the portion of the month in which the Company was listed In the event of suspension or delisting no portion of the fee will be refunded Application Following a Fundamental Change 10 000 The Issuer resulting from a fundamental change of a Listed Company must make a complete application to qualify for listing Requalification Fee 1 000 A Listed Company which has had its securities suspended from trading will be required to pay a requalification fee in addition to curing the default or breach that gave rise to the suspension B Fees for Listing Structured Products Initial Listing fee 10 000 A non refundable deposit of 2 000 must accompany the Listing Application and the balance of 8 000 is payable prior to the Listing Date The Initial Fee includes the first security of the issuer to be listed on the exchange Subsequent Issues 2 000 This fee is payable upon listing for each additional security listed on the exchange following the initial listing For new securities posted on an if as and when issued basis the fee is payable on the date of issue Monthly Fee variable The fee is based on the total value of the security For securities with a fixed term the fee

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2012/02/16/Notice-2012-001-CNSX-Markets-Inc.-Listing-Fee-Schedule.aspx (2014-10-22)
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  • Notice 2011-006 - CNSX Markets Trading Fees
    be introduced for equity securities trading at less than 0 10 The Designated Market Maker credit for passive trades will be replaced with a rebate for all passive trades and the fees for odd lot trades will be reversed such that the active side earns the rebate and the passive side pays the fee The minimum and maximum fees will also be eliminated The fee for crosses will not change New fees have been introduced for structured products as noted below The 0 10 per 1 000 par value fee will apply to both sides of the trade subject to a 1 00 minimum The flat fee for government bonds will not change CNSX LISTED Securities Trading Fees A Equity Securities shares warrants rights Price Range Per Share Active Fee Passive Rebate Less than 0 10 0 0006 0 0001 0 10 0 99 0 0011 0 0003 Equal to or greater than 1 00 0 0015 0 0006 Odd lot trades will be subject to reverse pricing having the effect of the active side earning the rebate and the passive side paying a fee Crosses will be charged a flat fee of 9 75 per trade B Debt Securities

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2011/12/19/Notice-2011-006-CNSX-Markets-Trading-Fees.aspx (2014-10-22)
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  • Notice 2011-005 - Trade Allocation for Jitney Orders
    the bid or offer as the case may be of the CNSX Dealer that entered the tradeable order by time priority and then To all other offsetting orders by time priority The descriptions of crosses in the document Order Types available on CNSX ca and the Pure Trading website www puretrading ca describe the allocation as follows Crosses Unintentional Crosses The system will search out crosses before trading other orders in the book Intentional Cross Intentional crosses may be executed at or between the bid ask in accordance with UMIR Crosses are subject to cross interference from the continuous book Intentional crosses will appear as passive on both sides in the Exchange Admin Field but will be billed as crosses according to the fee schedule The Rules do not explicitly describe the exception for jitney orders Historically prior to the introduction of Alternative Trading Systems orders entered by a Participant the jitney acting on behalf of another Participant would not seek out offsetting orders of the Participant entering the order Firm priority existed for orders that originated from and were entered by the same Participant The changes to the CNSX Trading System result in an allocation method that remains consistent with the current Rule A jitney marker on an order will have no effect on the allocation of trades The order will seek out offsetting orders from the executing dealer and also be subject to interference from orders previously entered by that dealer II Rationale With the introduction of several new marketplaces the methodology by which trades are allocated to jitney orders has not been uniform As described below in many cases jitney orders are not included in the rules describing allocation CNSX believes that the change in allocation makes it wholly consistent with the existing rule III Impact The impact is expected to be minimal and is dependant entirely upon the level of jitney activity The changes extend the concept of firm priority to include all orders entered by a firm This expansion also provides an opportunity for firms to select a more active participant to enter orders on their behalf It is anticipated that the change may result in increased order activity from certain CNSX Dealers without detrimental effect on others IV Consultation Limited consultation was conducted with CNSX Dealers Those that offered feedback supported the proposed change V Alternatives The only alternative considered was the existing method of allocating trades i e orders entered with a jitney marker would not be entitled to firm priority to either the executing participant or the originating participant other than price and time priority VI Existence of the Functionality The TSX Rule Book and Alpha ATS Policies each include similar rules to that of CNSX Markets Each rule describes the allocation of an incoming tradeable order without mention of the jitney marker Each rule that describes cross interference also does so without reference to the jitney marker The exact method of allocation however is not the same For an order with

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2011/11/25/Notice-2011-005-Trade-Allocation-for-Jitney-Orders-.aspx (2014-10-22)
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  • Notice 2011-004 -Trading Rules - Removal of Exceptions
    have now been implemented The text below has been removed from Rule 4 106 which now applies to all securities in the CNSX Trading System DELETED Application of Rule 4 106 1 as of June 27 2011 On January 12 2011 the Ontario Securities Commission approved certain amendments to the Rules that will upon implementation result in a uniform set of rules for all securities trading in the CNSX Trading System Notwithstanding the amendments to Rule 4 106 1 b and the corresponding repeal of Rule 11 108 1 b for CNSX listed securities the following system enforced restriction remains in effect 4 106 1 A CNSX Dealer may enter a orders and b crosses at any price between the bid and offer into the CNSX Trading System For Alternative Market Securities The amendments to Rule 4 111 Trading After the Opening were also dependent on changes to the CNSX Trading System which have now been implemented The text below has been removed from Rule 4 111 which now applies to all securities in the CNSX Trading System DELETED Application of Rule 4 111 1 as of June 27 2011 On January 12 2011 the Ontario Securities Commission approved certain amendments to the Rules that will upon implementation result in a uniform set of rules for all securities trading in the CNSX Trading System Notwithstanding the amendments to Rule 4 111 1 and the corresponding repeal of Rule 11 111 for a CNSX listed security the following system enforced rule remains in effect 4 111 1 A tradeable order shall be allocated among offsetting orders on the bid or offer as the case may be individually by time priority For Alternative Market Securities Effective Date As of October 3 2011 the exceptions for CNSX listed securities are no longer applicable

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2011/10/03/Notice-2011-004-Trading-Rules-Removal-of-Exceptions-.aspx (2014-10-22)
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