Holidays
For additional information, please contact the General Secretariat and Legal Affairs department by email at legal@m-x.ca.
| |
Interest Rate Derivatives1 |
Equity, Currency, ETF, Index Derivatives, Share Futures2 and BTC |
| 2025 |
January 1, 2025
New Year's Day |
Closed |
Closed |
February 14, 2025
Day preceding Family Day |
Closing at 1:30 p.m. |
Regular schedule |
February 17, 2025
Family Day |
Closed |
Closed |
April 17, 2025
Day preceding Good Friday |
Closing at 1:30 p.m. |
Regular schedule |
April 18, 2025
Good Friday |
Closed |
Closed |
May 16, 2025
Day preceding Victoria Day |
Closing at 1:30 p.m. |
Regular Schedule |
May 19, 2025
Victoria Day |
Closed |
Closed |
June 30, 2025
Day preceding Canada Day |
Closing at 1:30 p.m. |
Regular schedule |
July 1, 2025
Canada Day |
Closed |
Closed |
August 1, 2025
Day preceding Civic Holiday |
Closing at 1:30 p.m. |
Regular schedule |
August 4, 2025
Civic Holiday |
Closed |
Closed |
August 29, 2025
Day preceding Labour Day |
Closing at 1:30 p.m. |
Regular schedule |
September 1, 2025
Labour Day |
Closed |
Closed |
September 29, 2025
Day preceding National Day of Truth and Reconciliation |
Closing at 1:30 p.m. |
Regular schedule |
September 30, 2025
National Day of Truth and Reconciliation |
Closed |
Regular schedule |
October 10, 2025
Day preceding Thanksgiving Day |
Closing at 1:30 p.m. |
Regular schedule |
October 13, 2025
Thanksgiving Day |
Closed |
Closed |
November 10, 2025
Day preceding Remembrance Day |
Closing at 1:30 p.m. |
Regular schedule |
November 11, 2025
Remembrance Day |
Closed |
Regular schedule |
December 24, 2025
Day preceding Christmas |
Closing at 1:30 p.m. |
Closing at 1:00 p.m.3 |
December 25, 2025
Christmas |
Closed |
Closed |
December 26, 2025
Boxing Day |
Closed |
Closed |
December 31, 2025
Day preceding New Year's Day |
Closing at 1:30 p.m. |
Regular schedule |
| 2026 |
January 1, 2026
New Year's Day |
Closed |
Closed |
- Interest rate derivatives: COA, CRA, CGZ, CGF, CGB, LGB, OGZ, OGF and OGB.
- Equity, currency, ETF, index and share futures: Equity, currency options (US dollar), exchange-traded funds, index derivatives (SXF, SXM, SEG, SCG, SDV, SCF, SXA, SXB, SXD, SXG, SXH, SXK, SXR, SXS, SXT, SXU, SXW, SXY, SXO, SXJ and SXV) and share futures.
- Markets will close at 1:00 p.m. on December 24, 2024 subject to board approval
BTC: Basis Trade on Close close at 12:30 p.m. on December 24, 2024
Sector Index Futures close at 1:30 p.m. on December 24, 2024
Please take note that early closings have no impact on the settlement and clearing of transactions. The daily settlement price will be determined based on the market activity at 1:00 p.m.
Trading Hours & Stages - Money Market Derivatives
All trading hours for products listed on SOLA are determined by the Montréal Exchange (MX). In the case of a modification to these trading hours or stages, MX will issue a circular describing the modification. All the trading hours mentioned below are in Eastern Time.
- Pre-opening
- Order entry, cancellation and modification permitted
- No-cancellation
- Order entry permitted; cancellation and modification not permitted
- Opening
- Order entry, cancellation and modification permitted
- Closing
- Order entry, cancellation and modification not permitted
| Product | Pre-opening | No-cancel | Opening | Closing |
|---|
| CRA |
1:30:00 a.m. |
1:59:15 a.m. |
2:00:00 a.m.* |
4:30:00 p.m.** |
| COA |
1:30:00 a.m. |
1:59:15 a.m. |
2:00:00 a.m.* |
4:30:00 p.m.** |
| OCR |
1:30:00 a.m. |
1:59:15 a.m. |
2:00:00 a.m.* |
4:30:00 p.m.** |
| Strategies |
|---|
| CRA |
1:30:00 a.m. |
2:01:00 a.m. |
2:02:00 a.m.*** |
4:30:00 p.m.** |
| COA |
1:30:00 a.m. |
2:01:00 a.m. |
2:02:00 a.m.*** |
4:30:00 p.m.** |
| OCR |
1:30:00 a.m. |
2:01:00 a.m. |
2:02:00 a.m.*** |
4:30:00 p.m.** |
* +/- 15 seconds
** During early closing days, money market derivatives close for trading at 1:30 p.m.
*** Random opening will no longer be supported for strategies.
**** Trading for Interest Rate Options products, namely OCR, OGZ, OGF, and OGB, will terminate at 3:00 p.m. on the expiry day.
Trading Hours & Stages - Bond Market Derivatives
All trading hours for products listed on SOLA are determined by the Montréal Exchange (MX). In the case of a modification to these trading hours or stages, MX will issue a circular describing the modification. All the trading hours mentioned below are in Eastern Time.
- Pre-opening
- Order entry, cancellation and modification permitted
- No-cancellation
- Order entry permitted; cancellation and modification not permitted
- Opening
- Order entry, cancellation and modification permitted
- Closing
- Order entry, cancellation and modification not permitted
| Product | Pre-opening | No-cancel | Opening | Closing |
|---|
| CGZ |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:00 p.m.* |
4:30:00 p.m.** |
| CGF |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:00 p.m.* |
4:30:00 p.m.** |
| CGB |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:00 p.m.* |
4:30:00 p.m.** |
| LGB |
5:30:00 a.m. |
6:59:15 a.m. |
7:00:00 a.m.* |
4:30:00 p.m.** |
| OGZ |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:00 p.m.* |
4:30:00 p.m.** |
| OGF |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:00 p.m.* |
4:30:00 p.m.** |
| OGB |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:00 p.m.* |
4:30:00 p.m.** |
| Strategies |
|---|
| CGZ |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:15 p.m.*** |
4:30:00 p.m.** |
| CGF |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:15 p.m.*** |
4:30:00 p.m.** |
| CGB |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:15 p.m.*** |
4:30:00 p.m.** |
| LGB |
5:30:00 a.m. |
6:59:15 a.m. |
7:00:15 a.m.*** |
4:30:00 p.m.** |
| OGZ |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:15 p.m.*** |
4:30:00 p.m.** |
| OGF |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:15 p.m.*** |
4:30:00 p.m.** |
| OGB |
7:30:00 p.m. |
7:59:15 p.m. |
8:00:15 p.m.*** |
4:30:00 p.m.** |
* +/- 15 seconds
** During early closing days, bond market derivatives close for trading at 1:30 p.m.
*** Random opening will no longer be supported for strategies.
**** Trading for Interest Rate Options products, namely OCR, OGZ, OGF, and OGB, will terminate at 3:00 p.m. on the expiry day.
Trading Hours & Stages - Index Derivatives
All trading hours for products listed on SOLA are determined by the Montréal Exchange (MX). In the case of a modification to these trading hours or stages, MX will issue a circular describing the modification. All the trading hours mentioned below are in Eastern Time.
- Pre-opening
- Order entry, cancellation and modification permitted
- No-cancellation
- Order entry permitted; cancellation and modification not permitted
- Opening
- Order entry, cancellation and modification permitted
- Closing
- Order entry, cancellation and modification not permitted
| Product | Pre-opening | No-cancel | Opening
(early session) | Pre-opening | No-cancel | Opening
(regular session) | Closing |
|---|
| SXF |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXM |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SDV |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SEG |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SCG |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SCF |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXA |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXB |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXH |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXY |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXK |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXU |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXD |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXG |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXR |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXT |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXS |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXW |
7:30 p.m. |
7:59 p.m. |
8:00 p.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| BSF |
- |
- |
- |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:00 p.m. |
| Strategies |
|---|
| SXF |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXM |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SDV |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SEG |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SCG |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SCF |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXA |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXB |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXH |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXY |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXK |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXU |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXD |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXG |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXR |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXT |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXS |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
| SXW |
7:30 p.m. |
7:59 p.m. |
8:00 p.m. |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:30 p.m. |
* A trading range of -7% to +7% (based on previous day's settlement price) for index futures has been established for the early session only.
| Product | Pre-opening | Opening | Closing |
|---|
| SXO |
5:30 a.m. |
9:31 a.m. |
4:00 p.m. |
| SXJ |
5:30 a.m. |
9:31 a.m. |
4:00 p.m. |
| SXV |
5:30 a.m. |
9:31 a.m. |
4:00 p.m. |
Trading Hours & Stages - Equity Derivatives
All trading hours for products listed on SOLA are determined by the Montréal Exchange (MX). In the case of a modification to these trading hours or stages, MX will issue a circular describing the modification. All the trading hours mentioned below are in Eastern Time.
- Pre-opening
- Order entry, cancellation and modification permitted
- No-cancellation
- Order entry permitted; cancellation and modification not permitted
- Opening
- Order entry, cancellation and modification permitted
- Closing
- Order entry, cancellation and modification not permitted
| Product | Pre-opening | Opening | Closing |
|---|
| Equity Options |
5:30 a.m. |
9:30 a.m.* |
4:00 p.m. |
| ETF Options |
5:30 a.m. |
9:30 a.m.* |
4:00 p.m. |
| Strategies |
|---|
| Equity Options |
5:30 a.m. |
9:35 a.m.* |
4:00 p.m. |
| ETF Options |
5:30 a.m. |
9:35 a.m.* |
4:00 p.m. |
* The regular session of the equity option market opens at 9:30 a.m. Each option class then opens for trading when a trade occurs on its underlying security on Toronto Stock Exchange. If no such trade has yet occurred, the option class then opens for trading at 9:35 a.m.
| Product | Pre-opening | No-cancel | Opening
(early session) | Pre-opening | No-cancel | Opening
(regular session) | Closing |
|---|
| Share Futures |
5:30 a.m. |
5:59 a.m. |
6:00 a.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:00 p.m. |
| BTC Share Futures |
- |
- |
- |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
3:30 p.m. |
| ETF Futures |
5:30 a.m. |
5:59 a.m. |
6:00 a.m.* |
9:15 a.m. |
9:29 a.m. |
9:30 a.m. |
4:00 p.m. |
| Strategies |
|---|
| Share Futures |
5:30 a.m. |
5:59 a.m. |
6:01 a.m. |
9:15 a.m. |
9:29 a.m. |
9:31 a.m. |
4:00 p.m. |
| ETF Futures |
5:30 a.m. |
5:59 a.m. |
6:01 a.m. |
9:15 a.m. |
9:29 a.m. |
9:31 a.m. |
4:00 p.m. |
* A trading range of -5% to +5% (based on previous day's settlement price) has been established for the early session only.
Trading Hours & Stages - Currency Options
All trading hours for products listed on SOLA are determined by the Montréal Exchange (MX). In the case of a modification to these trading hours or stages, MX will issue a circular describing the modification. All the trading hours mentioned below are in Eastern Time.
- Pre-opening
- Order entry, cancellation and modification permitted
- No-cancellation
- Order entry permitted; cancellation and modification not permitted
- Opening
- Order entry, cancellation and modification permitted
- Closing
- Order entry, cancellation and modification not permitted
| Product | Pre-opening | Opening | Closing |
|---|
| USX |
5:30 a.m. |
9:30 a.m. |
4:00 p.m. |
Daily Settlement Times Details
Settlement methodologies are detailed in Bourse rules (https://rules.m-x.ca/)
Interest Rate Derivatives
| Product | *Daily Settlement Time |
|---|
| COA - One Month CORRA Futures |
3:00 PM ET |
| CRA - Three Month CORRA Futures |
3:00 PM ET |
| CGZ - Two Year Government Bond Futures |
3:00 PM ET |
| CGF - Five Year Government Bond Futures |
3:00 PM ET |
| CGB - Ten Year Government Bond Futures |
3:00 PM ET |
| LGB - Thirty Year Government Bond Futures |
3:00 PM ET |
| OGZ - Options on Two Year Canada Bond Futures |
3:00 PM ET |
| OGF - Options on Five Year Canada Bond Futures |
3:00 PM ET |
| OGB - Options on Ten Year Canada Bond Futures |
3:00 PM ET |
| OCR - Options on the Three-Month CORRA Futures |
3:00 PM ET |
*Interest Rate Futures settle at 1 PM on early closing days.
Index Derivatives
| Product | *Daily Settlement Time |
|---|
| SXF - S&P/TSX 60 Index Standard Futures |
4:00 PM ET |
| SXM - S&P/TSX 60 Index Mini Futures |
4:00 PM ET |
| SEG - S&P/TSX 60 ESG Index Futures |
4:00 PM ET |
| SCG - S&P/TSX Composite ESG Index Futures |
4:00 PM ET |
| SDV - S&P/TSX Dividend Index Futures |
4:00 PM ET |
| SCF - S&P/TSX Composite Index Mini Futures |
4:00 PM ET |
| SXA, SXB, SXD, SXG, SXH, SXK, SXR, SXS, SXT, SXU, SXW, SXY - Sector Index Futures |
4:00 PM ET |
*Interest Rate Futures settle at 1 PM on early closing days.
Equity Derivatives
| Product | *Daily Settlement Time |
|---|
| Share Futures |
4:00 PM ET |
*Interest Rate Futures settle at 1 PM on early closing days.
For questions pertaining to settlements, please call the Montreal Exchange Operations team at 1-888-693-6366.
