Pure Trading

Pure Trading provides trading and market data services for issues listed on Canadian stock exchanges. The alternative market became a fully recognized stock exchange in 2004 and launched trading in 2007. The exchange is operated by CNSX Markets, Inc.

Pure offers a competing auction market, with a high capacity/low latency trading environment, and competitive fee structure. Pure Trading is powered by the X-stream trading system, technology licensed from NASDAQ OMX and modified for the Canadian marketplace.

The fully automated trading venue operates on a time priority basis in pre-open and post-open, but seeks out crosses first. Unintentional crosses are designated as Active or Passive according to time priority, and are either charged a fee or rebated as part of the continuous auction market. The active side of the trade – the liquidity taker – is assessed a fee, while the passive side of the trade – the liquidity provider – earns a rebate. The Canadian Depository for Securities (CDS) provides clearing and settlement through the Continuous Net Settlement System.