Regulators Introduce Market On Close Facility To TSX-V

The Alberta and British Columbia Securities Commissions recently released a joint notice requesting comments on proposed amendments to the TSX Venture Exchange Rule Book that would allow the TSX-V to provide an automated market-on-close facility and a special trading session at the end of the day to enable traded and the submission of crosses at the last sale price.

The TSX-V's market on close facility would operate in materially the same way as the TSX facility, which is described as providing an efficient mechanism to establish the closing price, mitigating volatility around the close and encouraging increased liquidity for index related securities. The TSX-V's MOC facility would initially include all securities in the S&P/TSX Venture 30 Index and additional stocks could be added when new indexes are created or through customer requests.