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  • CNSX MARKETS INC. Announces Brand Consolidation
    economic growth in the country Securities The CSE provides listings and trading services for more than just common equities Convertible debentures debt instruments provincial government bonds structured products and income trusts are also currently listed on the exchange As issuers and the corporate finance community develop investment products designed to appeal to various segments of the investor population the CSE will look to enhance both primary and secondary market liquidity for these new instruments Exchange Issuers on the CSE are subject to a number of requirements designed to promote investor protection prospectuses or other disclosure documents reviewed and approved by a securities commission continuous disclosure requirements for material information monthly updates from each issuer available on the CSE s web site and periodic regulatory filings available to investors on www sedar com The CSE also provides a single continuous auction market service where bids and offers are displayed and incoming marketable orders are traded on a price broker and time algorithm Trading services are transparent with real time market information available from all major data vendors and at www google com finance Richard Carleton CEO commented we are looking to reduce complexity and cost in the delivery of exchange services

    Original URL path: http://www.puretrading.ca/News/2014/01/06/CNSX-MARKETS-INC-Announces-Brand-Consolidation.aspx (2014-10-22)
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  • CNSX MARKETS INC. Extends Discount Plan for Eligible Canadian Listed Companies
    time data via Google Finance Management and administrative time is saved by operating within CNSX s streamlined regulatory environment Costs and overhead are contained by virtue of CNSX s flat monthly maintenance fee no additional fees for filings ordinary course transactions or a percentage charged of new financings raised for the company by the Exchange The fee reduction brings the price of an initial listing on CNSX for qualified companies down to 5 000 Richard Carleton CEO stated The discount plan encouraged a number of companies to apply to switch their listing to CNSX The news last week of the investment by Dundee Corporation and the appointment of Mr Ned Goodman as Deputy Chairman of our Board has accelerated interest in joining our issuer list To capitalize on the momentum and to provide relief for entrepreneurs struggling to make ends meet in these challenging times we are pleased to extend this helping hand to qualified public companies To learn more email us at info cnsx ca or visit our all new website at www cnsx ca Follow us Real time quotes and company information are available at www google com finance For further information please contact Robert Cook Senior VP

    Original URL path: http://www.puretrading.ca/News/2013/10/15/CNSX-MARKETS-INC--Extends-Discount-Plan-for-Eligible-Canadian-Listed-Companies.aspx (2014-10-22)
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  • NOTICE 2014-005 – Notice & Request for Comments – Changes to Odd Lot Matching
    the context of the current bid ask The Exchange is proposing to change the matching algorithm to allow odd lots to trade on an any part basis subject to price and time priority Due to the all or none nature of Fill or kill orders odd lots designated as FOK would no longer be accepted Incoming odd lots will match with any odd lot orders in the book For securities with a Market Maker the incoming order will trade with any booked odd lot orders at a price better or equal to the existing bid ask Any balance will then be filled automatically by the Market Maker For securities without a Market Maker incoming odd lot orders will match with any orders in the book based on the price time priority Expected Implementation Date The change will be implemented with the introduction of the Guaranteed Fill facility anticipated to be on or about October 24 2014 Rationale and Analysis On July 25 2014 the Ontario Securities Commission approved the proposed amendments to Rule 4 to facilitate the introduction of the Guaranteed Fill facility and odd lot automatic execution against a Market Maker By implementing this significant change our dealers will benefit from better priced and timelier odd lot trading easing the burden associated with this type of trading and providing better fills for retail clients attempting to trade odd and mixed lots For securities without a Market Maker however the existing all or none matching would result in a disparity in the treatment of odd lot orders The adoption of any part trading for odd lots will reduce the disparity and improve the quality of fills on all securities with or without Market Makers Expected Impact None of the changes should introduce any additional costs to dealers The change to

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2014/09/04/NOTICE-2014-005-Notice-Request-for-Comments-Changes-to-Odd-Lot-Matching.aspx (2014-10-22)
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  • 2014-004 CSE Trading Fee Schedule
    dealer community and their clients The following trading fee schedule will be effective May 1 2014 For CSE listed securities including rights and warrants Price per Share Active Fee Passive Fee Securities Trading at 1 00 and above 0 0002 0 0002 Securities Trading Between 0 10 and 0 99 0 00008 0 00008 Securities Trading for less than 0 10 0 00004 with a cap of 15 0 00004 with a cap of 15 For TSX V listed securities including rights and warrants Price per Share Active Fee Passive Fee Securities Trading at 1 00 and above 0 0002 0 0002 Securities Trading Between 0 10 and 0 99 0 00008 0 00008 Securities Trading for less than 0 10 0 00004 with a cap of 15 0 00004 with a cap of 15 For TSX listed securities including rights and warrants Price per Share Active Fee Passive Rebate Securities Trading at 1 00 and above 0 0025 0 0020 Securities Trading for less than 1 00 0 0004 0 0001 Trades occurring in the market on open facility will have each side designated as active or passive according to time priority and will either be charged a fee or earn a rebate on the same terms as in the continuous auction market For CSE TSX and TSX V listed Debentures or Notes per 1 000 Par Value Fees to Take Liquidity 0 09 Rebates for Providing Liquidity 0 07 For CSE listed Government Bonds A flat fee of 9 75 per side per trade In General Each dealer will be charged a basic monthly participation fee of 500 The active side of a trade is the order that takes liquidity from the CSE and the passive side of a trade is the order that provides liquidity to the

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2014/04/29/2014-004-CSE-Trading-Fee-Schedule.aspx (2014-10-22)
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  • NOTICE 2014-003 – CSE - REQUEST FOR COMMENTS – SELF TRADE PREVENTION
    Form 21 101F1 and the Exhibits Thereto attached as Appendix B to the Exchange s recognition order Comments may be provided no later than May 12 2014 and should be addressed to Mark Faulkner Vice President Listings and Regulation CNSX Markets Inc 220 Bay Street 9th Floor Toronto ON M5J 2W4 Fax 416 572 4160 Email Mark Faulkner thecse com A copy should be provided to Susan Greenglass Director Market Regulation Ontario Securities Commission Suite 1903 Box 55 20 Queen Street West Toronto ON M5H 3S8 Fax 416 595 8940 Email Marketregulation osc gov on ca Terms not defined in this Notice are defined in the CNSX Rules Proposed Change Self Trade Prevention The Exchange will be providing for Dealers an optional function that prevents two orders from the same firm with matching keys from trading against each other by cancelling or re pricing the incoming orders at the user s option This will prevent same firm orders or same beneficial owner orders from trading against each other Effective Date The self trade prevention 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 The proposed change will provide dealers with an additional compliance tool that will provide better overall market quality with respect to trade execution and increased accuracy in trade reporting Impact Self Trade Prevention will provide system enforced avoidance of self trades at the option of Dealers and clients None of the changes should introduce any additional costs to dealers Exchange Compliance The new functionality does not affect Exchange compliance with Ontario Securities law nor

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2014/04/11/NOTICE-2014-003-CSE-REQUEST-FOR-COMMENTS-SELF-TRADE-PREVENTION.aspx (2014-10-22)
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  • Notice 2014-002 Notice and Request for Comments - AMENDMENTS TO RULE 4 TRADING OF SECURITIES
    is eligible for a guaranteed fill provided that the order is not a One of multiple orders for the same client on the same day b An order entered by a DEA client unless the DEA client is a broker acting as an agent for retail client order flow c An order entered on behalf of a U S dealer unless the order is for a client of the U S dealer and The Dealer first confirms the order is for a client of the U S dealer or d For a client that is generally involved in active and continuous trading on a daily basis 2 Fills that occur in violation of the eligibility requirements above may be cancelled at the request of the Market Maker The Exchange may cancel or amend any trades deemed to be improper use of the Guaranteed Fill facility 4 112 Appointment of Market Makers 1 A CNSX Dealer wishing to act as a Market Maker in a CNSX l L isted S s ecurity shall file notice thereof with CNSX the Exchange on the prescribed form and shall become obligated to perform the functions of a Market Maker upon approval by CNSX the Exchange Before granting such approval the Exchange will consider a The Guaranteed Fill volume proposed by the Market Maker b The proposed goal for the average bid ask spread c Performance history as a Market Maker 2 Subject to Rule 4 101 a CNSX Dealer approved as a Market Maker shall appoint a Primary Trader to perform the obligations set out in these Rules and an Alternate Trader to act in the absence of the Primary Trader 3 A Dealer approved as a Market Maker must maintain a two sided continuous quotation for a period of not less than three consecutive calendar months and must give CNSX the Exchange at least 30 days advance notice of its intention to relinquish any Market Maker Obligations 4 A CNSX Dealer which ceases to act as a Market Maker in respect of a CNSX l L isted S s ecurity may not become a Market Maker in that security for a period of 30 days 5 CNSX Markets The Exchange may in its sole discretion designate a CNSX Dealer as a Market Maker in respect of a CNSX l L isted S s ecurity where the CNSX Dealer s trading activities suggest the market will be better served by the CNX Dealer assuming the responsibilities of a Market Maker 6 The Exchange may in its sole discretion withdraw the approval as a designated Market Maker on one or more securities with or without notice 7 The Exchange may in its sole discretion waive the three month requirement or the notice period of 4 112 3 or the waiting period described in 4 112 4 4 113 Quotations Commitments and Performance 1 Two Sided Quotations A Designated Market Maker shall a buy and sell such security for its own account on a continuous basis

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2014/04/11/Notice-2014-002-Notice-and-Request-for-Comments-AMENDMENTS-TO-RULE-4-TRADING-OF-SECURITIES.aspx (2014-10-22)
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  • NOTICE 2014-001 - Notice Of OSC Approval Of Amendments To Rule 12 – Access By Eligible Clients
    and the requirement for a Dealer to inform the Exchange if a Trader ID will be used for DEA activity Reasons for the Amendments The CSA have finalized amendments to NI 23 103 that relate to the offer and use of direct electronic access DEA which will come into effect on March 1 2014 These amendments do not set out an eligible client list that imposes specific financial standards upon DEA clients as found in the current DEA rules and policies at the marketplace level Rather the amendments allow a dealer providing DEA to have flexibility to determine the specific levels of the minimum standards of DEA clients in order to accommodate its business model and appetite for risk This approach is in keeping with global standards related to DEA The Amendments are also consistent with the requirement in section 4 7 of NI 23 103 that sets out the parameters under which entities that trade for the account of another person of company may receive DEA from a participant dealer CNSX Markets will revoke the rules related to DEA upon implementation of the amendments to NI 23 103 on March 1 2014 Effect of the Amendments In general the Amendments will repeal the definitions and requirements of the Rule to reflect the implementation of the new requirements for Direct Electronic Access in NI 23 103 Description of the Change Rule 12 will be renamed Access by DEA Clients Rule 12 101 which defined and described eligible client will be repealed Rule 12 102 Conditions for Providing Direct Access to Eligible Clients will be renumbered and renamed 12 101 Conditions for Providing Direct Access to DEA Clients and will include the definition DEA Client means a client that is granted direct electronic access by a Dealer in accordance with National Instrument 23 103 Electronic Trading and Direct Electronic Access to Marketplaces The requirement that a CNSX Dealer must notify the Exchange if a Trader ID is used for a DEA client will be retained as 12 101 2 a All other conditions of 12 102 will be repealed Rule 12 103 Responsibility of CNSX Dealers for Eligible Client Access will be repealed except the requirement for the CNSX Dealer to be responsible for compliance with CNSX Requirements with respect to order entry and execution which will be renumbered as 12 101 2 b Expected Implementation Date March 1 2014 Rationale and Analysis DEA related amendments to NI 23 103 will become effective March 1 2014 CNSX will repeal the specific provisions for providing DEA included in CNSX Rules Expected Impact The change will ensure consistency across all marketplaces for DEA requirements Systemic Risk There is no anticipated increase or decrease in systemic risk unless the amendments are not adopted by all marketplaces Compliance with Ontario Securities Law The change is not expected to have any adverse impact on fair access or the maintenance of fair and orderly markets Consultation OSC Staff have determined that a request for comment for these

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2014/02/27/NOTICE-2014-001-Notice-Of-OSC-Approval-Of-Amendments-To-Rule-12-Access-By-Eligible-Clients.aspx (2014-10-22)
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  • Notice 2013-006 – Listing Fee Schedule - Reduced Initial Listing Fee For Currently Listed Companies Extended
    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 Listing

    Original URL path: http://www.puretrading.ca/CNSX/Listing/Notices/2013/10/08/Notice-2013-006-Listing-Fee-Schedule-Reduced-Initial-Listing-Fee-For-Currently-Listed-Companies-Extended.aspx (2014-10-22)
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