How it Works

All trades are executed on MATCHNow. All orders must meet UMIR 6.6 minimum order sizes, be greater than 50 board lots and have a notional value greater than $30,000, or be any quantity with a notional value greater than $100,000.

Conditionals are submitted via FIX to the MATCHNow system for sell-side subscribers or via the BIDS Trader application for buyside participants. The Cboe BIDS Canada platform interacts with buy-side and sell-side to firm up the Conditional. A Sponsoring Broker is selected by the buy-side trader before executing the transaction.

The trade is executed on-exchange by MATCHNow. Firm-up orders and trades will be reported to IIROC in “real-time” by MATCHNow. Drop copies are also available from both Cboe BIDS Canada and MATCHNow. The trade is reported through the MATCHNow PITCH market data feed as a Conditional trade in “real-time.”