Changes to Overnight Position Handling for US and Canada

October 5, 2021

Dear Manager,

Overnight Fee on Halted Symbols

In response to feedback received  from managers, please be advised that Head Office will introduce a new overnight fee on Halted Symbols to supplement the announced normal overnight fee. The fee is retroactive to October 1, 2021, and the details are as follows:

Effective on Monday, January 11, 2021, we will introduce the following changes to overnight position handling for US and Canada markets:

• Overnight positions on US markets will be pushed to the corresponding traders' blotters at 9:00 AM Eastern Time
• Overnight positions on Canadian markets will be pushed to the corresponding traders' blotters at 9:15 AM Eastern Time

T+1 / T+2

Effective from Wednesday, August 14, 2019, traders will keep the profit/loss on long overnight positions where the per share price of the stock in the overnight position is $0.50 or less (if they cover on T+1). In other words, this policy update will apply to low-priced stocks in the US and Canada markets.

If traders fail to cover on T+1, then the normal T+2 handling procedures and associated fees will apply. For more information, you can read our Policy on Overnights and Halts.

Note: there is no change for all other overnights, including short positions on low-priced stocks.

Effective Thursday, September 12, 2019, Head Office will lower the Canadian long position T+1 overnight fee for symbols priced at $0.50 or less, as follows:

Regards,