Trading Hours & Holidays

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 4, 2025 Day preceding Labour Day	Closing at 1:30 p.m.	Regular schedule
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
February 13, 2026 Day preceding Family Day	Closing at 1:30 p.m.	Regular schedule
February 16, 2026 Family Day	Closed	Closed
April 2, 2026 Day preceding Good Friday	Closing at 1:30 p.m.	Regular schedule
April 3, 2026 Good Friday	Closed	Closed
May 15, 2026 Day preceding Victoria Day	Closing at 1:30 p.m.	Regular Schedule
May 18, 2026 Victoria Day	Closed	Closed
June 30, 2026 Day preceding Canada Day	Closing at 1:30 p.m.	Regular schedule
July 1, 2026 Canada Day	Closed	Closed
July 31, 2026 Day preceding Civic Holiday	Closing at 1:30 p.m.	Regular schedule
August 3, 2026 Civic Holiday	Closed	Closed
September 7, 2026 Labour Day	Closed	Closed
September 29, 2026 Day preceding National Day of Truth and Reconciliation	Closing at 1:30 p.m.	Regular schedule
September 30, 2026 National Day of Truth and Reconciliation	Closed	Regular schedule
October 9, 2026 Day preceding Thanksgiving Day	Closing at 1:30 p.m.	Regular schedule
October 12, 2026 Thanksgiving Day	Closed	Closed
November 10, 2026 Day preceding Remembrance Day	Closing at 1:30 p.m.	Regular schedule
November 11, 2026 Remembrance Day	Closed	Regular schedule
December 24, 2026 Day preceding Christmas	Closing at 1:30 p.m.	Closing at 1:00 p.m.⁴
December 25, 2026 Christmas	Closed	Closed
December 28, 2026 Boxing Day	Closed	Closed
December 31, 2026 Day preceding New Year's Day	Closing at 1:30 p.m.	Regular schedule
2027
January 1, 2027 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, SXT, SXU, SXW, SXY, SXO, SXJ and SXV) and share futures.
Markets will close at 1:00 p.m. on December 24, 2025 subject to board approval
BTC: Basis Trade on Close close at 12:30 p.m. on December 24, 2025
Sector Index Futures close at 1:30 p.m. on December 24, 2025
Markets will close at 1:00 p.m. on December 24, 2026 subject to board approval
BTC: Basis Trade on Close close at 12:30 p.m. on December 24, 2026
Sector Index Futures close at 1:30 p.m. on December 24, 2026

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

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

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.
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.
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

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

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, 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.