- Interest Rate Derivatives
- Riskless Basis Cross Transactions
- Options and Futures Quotes
- Trading Calendar
- List of Fees
- Articles & Newsletters
- TMX Group Board of Directors and Corporate Governance
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- User Defined and Inter-Group Strategies
- Position Limits
- Margin Requirements
Individual Canadian or international shares, exchange traded funds or trust units.
One contract represents 100 shares or units.
- Quarterlies: March, June, September and December.
- Serials: four (4) nearest non-quarterly months.
Prices are quoted in Canadian dollars and cents per share or unit.
Minimum price fluctuation
CAN $0.01 per share or unit.
CAN $0.001 per share or unit for Basis Trades on Close
Physically-delivered; delivery of the underlying interest via the Canadian Depository for Securities Limited (CDS).
Last trading day
Trading ceases at 4:00 p.m. (ET) on the third Friday of the contract month, provided it is a business day; if not, the first preceding business day.
For Basis Trades on Close, trading ceases at 3:30 p.m. (ET)
Final settlement day
The second business day after the last trading day.
Position reporting threshold
250 contracts, in the case of stock options and share futures contracts / 250 in the case of trust units options and share futures contracts / 500, in the case of options on exchange traded fund options and share futures contracts, (for all contract months combined of each future contract) having the same underlying interest, by aggregating positions on options and futures contracts, one option contract being equal to one future contract. While options and futures contracts must be considered in the aggregate for purposes of the reporting threshold (on a gross basis), positions in options and futures contracts shall be reported each separately.
Information on position limits can be obtained from the Bourse as they are subject to periodical changes. See Circulars.
A trading halt will be invoked in conjunction with the triggering of "circuit breakers" on the underlying issue.
Minimum margin requirements
Information on minimum margin requirements can be obtained from the Bourse as they are subject to periodic changes. See the Future contracts margin rates page on the Regulatory Division website.
- Early session*
- 6:00 a.m. to 9:15 a.m. ET
- Regular session
- 9:30 a.m. to 4:00 p.m. ET
- Basis Trades on Close: Regular session
- 9:30 a.m. to 3:30 p.m. ET
* A trading range of -5% to +5% (based on previous day's settlement price) has been established only for this session.
Canadian Derivatives Clearing Corporation (CDCC).
Please refer to the Rules of the Bourse.
The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules of Bourse de Montréal Inc. (“Rules of the Bourse”). While Bourse de Montréal Inc. endeavors to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the Rules of the Bourse, the latter shall prevail. The Rules of the Bourse must be consulted in all cases concerning products' specifications.