Listing Steps (please select a from the list below):
Listing Manual
The NEO Exchange Listing Manual governs listing activity on the Exchange and is applicable to all companies or entities listing or which have listed with NEO.
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Resource Library
Listing Resources
Listing Steps & Manual
ViewListing Forms
ViewSelect a Listing Form:
Listing Fees
ViewThe Listing Fee Schedule outlines all initial, ongoing and transactional related fees associated with Listings on NEO.
Payment Instruction
Listing Standards
ViewMinimum Initial Listing Standards for Corporate Issuers
| Requirement | Equity Standard | Net Income Standard | Market Value Standard | Assets & Revenues Standard | SPAC |
|---|---|---|---|---|---|
| Shareholders' Equity | $5 million | - | - | - | - |
| Expected Market Value of Public Float | $10 million | $10 million | $10 million | $10 million | $30 million¹ |
| Publicly Held Securities | 1 million | 1 million | 1 million | 1 million | 1 million |
| Public Security Holders | 150 | 150 | 150 | 150 | 150 |
| Net Income from Continuing Ops | - | 750,000² | - | - | - |
| Market Value of Listed Securities | - | - | $50 million | - | - |
| Operating History | 2 years | 2 years | 2 years | 2 years | 2 years |
| Assets and Revenues | - | - | - | $10 million each | - |
| Investor Relations Requirement³ | Yes | Yes | Yes | Yes | No |
All dollar amounts are expressed in Canadian dollars.
¹ SPACs must also meet the criteria prescribed under section 10.16 of the Listing Manual.
² In the last fiscal year or in two of the last three fiscal years.
³ Budget of at least $100,000 for the 12 months after listing.
Ongoing Listing Standards for Companies
| Requirement | |
|---|---|
| Distribution | 500,000 public securities; and a minimum of 150 public shareholders |
| Market Value of Public Float | $2 million |
| Minimum Standard (at least 1 criteria must be met) | 1. Shareholders' equity of at least $2.5 million; 2. Net income from continuing operations of at least $375,000; 3. Market value of Listed Securities of at least $25 million; or 4. Assets and revenue of at least $5 million each |
| Investor Relations Requirement | Maintain an annual investor relations budget of at least $50,000. For a SPAC, this provision does not apply prior to the completion of a Qualifying Transaction. |
Listing Guidance
ViewCOVID-19 Guidance to Listed Issuers (March 20 2020)
Guidance for Marijuana-Related Companies (please contact us to request a copy)
Guidance for Psychedelics-Related Companies (please contact us to request a copy)
Trading Resources
Trading Policies & Functionality Guide
ViewTrading Hours
ViewNEO Listed Securities
| NEO-L | NEO-N | NEO-D | Crossing Facility | |
|---|---|---|---|---|
| Pre-Open | 7:00am-9:30am | - | 8:00am-9:30am | - |
| Opening Call | 9:30am | - | - | - |
| Continuous Trading | 9:30am-4:00pm(1) | 8:00am-5:00pm | 9:30am-4:00pm(2) | 8:00am-5:00pm |
| Closing Call | 4:00pm-4:05pm(3) | - | - | - |
| Extended Trading | 4:05pm(3)-5:00pm | - | - | - |
Other Securities
| NEO-L | NEO-N | NEO-D | Crossing Facility | |
|---|---|---|---|---|
| Pre-Open | - | - | 8:00am-9:30am | - |
| Continuous Trading | 8:00am-5:00pm(2) | 8:00am-5:00pm | 9:30am-4:00pm(2) | 8:00am-5:00pm |
1) Special Settlement Terms ("SST") orders are accepted and matched between the hours of 8:00AM - 5:00PM for all securities.
2) The odd lot facility is restricted to the hours of 9:30am-4:00pm. Odd lot or mixed lot orders sent outside of those hours will be rejected
3) Only for Closing Call Eligible Securities. Extended Trading commences at 4:00pm for NEO listed securities not eligible for closing call.
Membership & Trading Fees
ViewETF Volatility Threshold List
ViewList of Members
View| Company Name | Dealer |
|---|---|
| ACUMEN CAPITAL FINANCIAL PARTNERS | 200 |
| ATB CAPITAL MARKETS INC | 003 |
| BARCLAYS CAPITAL | 090 |
| BEACON SECURITIES | 087 |
| BMO NESBITT BURNS | 009 |
| CALDWELL SECURITIES | 043 |
| CANACCORD GENUITY | 033 |
| CANTOR FITZGERALD | 004 |
| CI INVESTMENT SERVICES INC. | 028 |
| CIBC WORLD MARKETS | 079 |
| CITADEL SECURITIES | 005 |
| CLARUS SECURITIES | 024 |
| CORMARK SECURITIES | 073 |
| CREDENTIAL QTRADE SECURITIES | 088 |
| CREDIT SUISSE SECURITIES | 072 |
| DESJARDINS SECURITIES | 019 |
| ECHELON WEALTH PARTNERS | 018 |
| EDWARD JONES | 056 |
| EIGHT CAPITAL | 008 |
| FIDELITY CLEARING | 022 |
| FRIEDBERG MERCANTILE GROUP | 035 |
| GENERATION IACP INC. | 150 |
| GOLDMAN SACHS | 065 |
| HAMPTON SECURITIES | 094 |
| HAYWOOD SECURITIES | 062 |
| IA PRIVATE WEALTH INC. | 076 |
| INDEPENDENT TRADING GROUP | 084 |
| INFOR FINANCIAL | 006 |
| INSTINET | 013 |
| INTEGRAL WEALTH SECURITIES LTD. | 017 |
| INTERACTIVE BROKERS | 057 |
| JONESTRADING | 091 |
| JP MORGAN SECURITIES | 222 |
| LAURENTIAN BANK SECURITIES | 048 |
| LEEDE JONES GABLE | 068 |
| LIQUIDNET | 038 |
| M PARTNERS | 097 |
| MAISON PLACEMENTS | 034 |
| MANULIFE SECURITIES | 070 |
| MERRILL LYNCH | 039 |
| MORGAN STANLEY | 053 |
| NATIONAL BANK FINANCIAL | 080 |
| ODLUM BROWN | 025 |
| PARADIGM CAPITAL | 016 |
| PAVILION GLOBAL MARKETS | 021 |
| PERSHING SECURITIES | 143 |
| PETERS & CO. | 077 |
| PI FINANCIAL | 059 |
| PICTET | 086 |
| POLLITT & CO. | 092 |
| QUESTRADE | 124 |
| RAYMOND JAMES | 089 |
| RBC DOMINION SECURITIES | 002 |
| RESEARCH CAPITAL CORPORATION | 083 |
| RF SECURITIES CLEARING LP | 074 |
| SCOTIA CAPITAL | 085 |
| SOCIETE GENERALE CAPITAL | 101 |
| STATE STREET GLOBAL MARKETS | 023 |
| STIFEL NICOLAUS CANADA INC | 082 |
| TD SECURITIES | 007 |
| UBS SECURITIES | 015 |
| VELOCITY TRADE CAPITAL | 055 |
| VIRTU CANADA CORP. | 014 |
| W.D. LATIMER CO. | 036 |
Online Retail Brokers
ViewBelow you will find a list of Canadian discount brokerages that support trading and real time market data for securities listed and traded on NEO.
Support for NEO Listed Securities
| Online Broker | Trading | Market Data |
|---|---|---|
| BMO Investorline | ||
| CIBC Investor's Edge | ||
| Credential Direct | ||
| Disnat | ||
| HSBC InvestDirect | ||
| Interactive Brokers Canada | ||
| Jitneytrade | ||
| Laurentian Bank* | ||
| National Bank Direct | ||
| Qtrade | ||
| Questrade | ||
| RBC Direct Investing | ||
| Scotia iTrade | ||
| TD Direct Investing | ||
| Virtual Brokers | ||
| WS Trade |
As of September 2018
*Trading is currently supported by telephone orders only
Real-time market data from the NEO Exchange is available free of charge for all retail investors. Please enquire with your discount broker on how you can access this data.
Click here to view real-time quotes for all Cboe-listed securities
Retail Advisors
ViewBelow you will find a list of Canadian wealth management brokerages that have confirmed support for trading and real time market data for securities listed on the NEO Exchange across their advisor networks. In March 2016, the NEO Exchange began listing securities, which are available for trading across Canada. Securities listed on the TSX, TSX Venture, and CSE exchanges are also traded on the NEO Exchange.
| Retail Broker | Trading | Market Data |
|---|---|---|
| Assante Wealth*† | ||
| BMO Nesbitt Burns | ||
| Canaccord Genuity Wealth | ||
| CIBC Wood Gundy | ||
| Desjardins Wealth† | ||
| Haywood Securities† | ||
| Hollis Wealth | ||
| IA Private Wealth Inc. | ||
| Laurentian Bank*† | ||
| Leede Jones Gable† | ||
| Manulife Securities† | ||
| National Bank Financial | ||
| PI Financial Corp† | ||
| Raymond James† | ||
| RBC Dominion Securities | ||
| Research Capital Corporation | ||
| Richardson GMP | ||
| Scotia McLeod | ||
| TD Wealth |
As of June 2018. This list is based on information provided to us by the brokerages. If your firm is missing from the list it does not necessarily mean NEO listed securities are not supported. Contact your branch administrator to enquire about NEO listed securities or call our investor helpline at 416-933-5970 for more information.
*Trading is currently supported by telephone orders only
†Real-Time data on NEO Listed Securities is available for Advisors upon request
Click here to view real-time quotes for all Cboe-listed securities
Closing Call Eligible Securities
ViewOrder Types
View| ORDER TYPE | AVAILABLE IN NEO-L | AVAILABLE IN NEO-N | AVAILABLE IN NEO-D | AVAILABLE IN CROSSING FACILITY |
|---|---|---|---|---|
| Limit | Yes | Yes | Yes** | No |
| Market | Yes | Yes | Yes** | No |
| Mid-Point Pegged | Yes | Yes | Yes | No |
| Minimum Price Improvement (MPI) | No | No | Yes**** | No |
| Fill or Kill (FOK) | Yes | Yes | Yes | No |
| Immediate or Cancel (IOC) | Yes | Yes | Yes | No |
| Market on Open (MOO) | Yes* | No | No | No |
| Limit on Open (LOO) | Yes* | No | No | No |
| Market on Close (MOC) | Yes* | No | No | No |
| Limit on Close (LOC) | Yes* | No | No | No |
| Good for Day (Day) | Yes | Yes | Yes | Yes |
| Good till Time (GTT) | Yes | Yes | No | No |
| Good till Cancelled (GTC) | Yes* | No | No | No |
| Good till Date (GTD) | Yes* | No | No | No |
| Imbalance Only (IO) | Yes* | No | No | No |
| Regular Hours Only (RHO) | Yes | Yes | Yes | No |
| Iceberg | Yes | Yes | No | No |
| Mixed Lot | Yes | No | Yes** | Yes*** |
| Odd Lot | Yes | No | Yes** | Yes*** |
| Directed-Action Order | Yes | Yes | Yes | Yes |
| Passive Only Re-price | Yes | Yes | No | No |
| Passive Only Cancel | Yes | Yes | No | No |
| Protect & Reprice | Yes | Yes | No | No |
| Protect & Cancel | Yes | Yes | No | No |
| Short Sale | Yes | Yes | Yes | Yes |
| Self-Trade Prevention | Yes | Yes | Yes | No |
| Attributed & Anonymous | Yes | Yes | Yes | Yes |
| Bypass | Yes | Yes | No | No |
| Minimum Acceptable Quantity (MAQ) | No | No | Yes | No |
| On-Stop | Yes | No | No | No |
| Contra Election | No | No | Yes | No |
| Bypass Cross | No | No | No | Yes |
| National Cross | No | No | No | Yes |
| Internal Cross | No | No | No | Yes |
| Basis Cross | No | No | No | Yes |
| Contingent Cross | No | No | No | Yes |
| VWAP Cross | No | No | No | Yes |
| Derivative Cross | No | No | No | Yes |
* Only available for Cboe-listed securities.
** These order types are only allowed for dark active orders.
*** All cross types support the entry of mixed and odd lot orders with the exception of Bypass Crosses which cannot be of an odd lot quantity.
**** This order type is only allowed for dark passive orders.
Trading Specifications
ViewExchange FIX 4.2 Order Entry Specification
Exchange FIX 4.2 Order Entry Specification
Exchange FIX 4.2 Drop Copy Specification
Trading Agreements
ViewThe following agreements govern all trading-related activities on the NEO Exchange. The associated fee schedules are listed below each agreement.
Connectivity Services Agreement
Applicable to all entities that are connecting directly to the NEO Exchange production environment for the purpose of sending orders or receiving market data. This includes dealers with proprietary systems or deployed vendor solutions, vendors with hosted services, data distributors and DEA clients connecting through sponsoring Members.
Connectivity Services Agreement
Connectivity Services Fee Schedule
Member Agreement
Applicable to all IIROC dealers who would like to become members of the NEO Exchange.
Member Agreement (To be effective as of January 1, 2024, subject to regulatory approval of the proposed amalgamation)
NEO Inter-listed Securities (Quarterly List)
ViewFor the purposes of subsection 6.6.1 of National Instrument 23-101
NEO Interlisted - September 30, 2023
NEO Interlisted - June 30, 2023
NEO Interlisted - March 31, 2023
NEO Interlisted - December 31, 2022
NEO Interlisted - September 30, 2022
NEO Interlisted - June 30, 2022
NEO Interlisted - March 31, 2022
NEO Interlisted - December 31, 2021
NEO Interlisted - September 30, 2021
NEO Interlisted - June 30, 2021
NEO Interlisted - March 31, 2021
NEO Interlisted - December 31, 2020
NEO Interlisted - September 30, 2020
NEO Interlisted - June 30, 2020
NEO Interlisted - March 31, 2020
NEO Interlisted - December 31, 2019
NEO Interlisted - December 31, 2018
NEO Interlisted - September 30, 2018
NEO Interlisted - June 30, 2018
NEO Interlisted - March 31, 2018
This information is intended to provide a list of securities listed on NEO Exchange that are also listed on a U.S. exchange. This list does not include interlisted securities that are listed on another Canadian exchange.
Market Making
Obligations & Benefits
ViewCorporate Securities >=$1
| Obligations (per Book & per Security) | Base Tier |
|---|---|
| Quoting Two-sided quote, X% of time between 9.30am-4.00pm | 95% |
| Size & Spread Number of board lots (BL) within a maximum spread of X%, minimum 2 BL on each side | 4 BL 5% |
Corporate Securities <$1
| Obligations (per Book & per Security) | $0.01 - $0.09 | $0.1 - $0.49 | $0.50 - $0.99 |
|---|---|---|---|
| Quoting Two-sided quote, X% of time between 9.30am-4.00pm | 95% | 95% | 95% |
| Size & Spread Number of Board lots (BL) within $X spread, minimum 1 BL on each side | 4 BL $0.03 | 4 BL $0.05 | 4 BL $0.07 |
ETFs & CEFs
| Obligations (per Book & per Security) | Base Tier |
|---|---|
| Quoting Two-sided quote, X% of time between 9.30am-4.00pm | 95% |
| Size & Spread Number of board lots (BL) within a maximum spread of X%, minimum 2 BL on each side | 15 BL 4% |
Structured Products
| Obligations (per Book & per Security) | Base Tier |
|---|---|
| Quoting Two-sided quote, X% of time between 9.30am-4.00pm | 95% |
| Size & Spread Number of board lots (BL) within a maximum spread of X%, minimum 2 BL on each side | 30 BL 5% |
If you’d like to learn more about becoming a NEO market maker, contact [email protected].
List of Market Makers
View| Company Name | Dealer | ETFs & CEFs | Stocks & Related Securities | Primary Contact |
|---|---|---|---|---|
| BMO Nesbitt Burns | 9 | Joey Zhang – (416) 359-8371 | ||
| Canaccord Genuity Corp. | 33 | Eric Cheung – (416) 869-7295 | ||
| CIBC World Markets | 79 | Camilo Gil – (416) 594-8478 | ||
| ITG | 84 | Rob Russell - (905) 464-1941 | ||
| National Bank Financial | 80 | Alain Katchouni - (514) 879-6401 | ||
| RBC Capital Markets | 2 | Andrew Zhu - (416) 842-6649 | ||
| Scotia Capital | 85 | Alex Perel - (416) 863-7511 | ||
| TD Securities | 7 | Shannon Hunt - (416) 307 7664 | ||
| W.D. Latimer | 36 | Joshua Cauz- (416) 363-2734 | ||
| Virtu Financial Canada | 212 | Andrew Smith – (212) 418-0195 |
Market Maker Agreement
ViewApplicable to any IIROC dealer that would like to become a Designated Market Maker (DMM) on the NEO Exchange. All DMMs must also to sign the Member Agreement.
Market Data
Market Data Agreements
ViewStarting November 24, 2022, new NEO data customers will be required to enter into the Cboe Global Markets Global Data Agreement. For existing NEO Data Recipients, the Cboe Global Markets Global Data Agreement will become effective as of February 27, 2023, and will replace existing NEO Data Agreements.
Market Data Instructions & Policies
Effective as of February 27, 2023, the Cboe North American Data Policies (the “Data Policies”) will replace the NEO Data Instructions. The Data Policies will supplement the Global Data Agreement and address the receipt, use, pricing, reporting, and distribution of data.
Historical Data Agreement & Order Form
Applicable to those who would like to subscribe to the NEO historical and corporate actions data file service and have not already executed the Data Agreement. NEO data file services can be selected using the Historical Data Order Form.
Market Data Fees
ViewNEO provides free real-time market data on NEO listed securities. For non-professional data users, NEO also provides no-charge real-time data on other Canadian listed securities that trade on NEO.
To facilitate more affordable display access to consolidated Canadian market data, NEO offers reduced fees to professional subscribers whose business is focussed on servicing the retail investor.
How do I subscribe to NEO Exchange data?
Subscribing to NEO market data can be done through an approved data distributor, by receiving the data directly from NEO, or as part of a Canadian consolidated feed.
For further information please contact [email protected].
Market Data Specifications
ViewNITCH Market Data Specification
Approved Data Distributors
ViewNEO Vendor Symbology
View| Data Vendor | Symbol Format | |||
|---|---|---|---|---|
| NEO-L | NEO-N | NEO-D | Consolidated Quote | |
| Thomson Reuters | DWG-GD | DWG-GR | n/a | DWG-MK |
| Thomson Reuters - RICS | DWG.NLB | DWG.NEO | DWG.NED | DWG.CCP |
| Bloomberg | DWG QF | DWG QH | DWG QG | DWG CN |
| ICE Data Services | DWG-QL | DWG-QN | n/a | DWG-CC |
| Quotemedia | DWG:AQL | DWG:AQN | n/a | DWG:CC |
| Activ | DWG.AQL | DWG.AQN | DWG.AQD | DWG.CAC |
| Factset | DWG-NEOL | DWG-NEOE | DWG-NEOD | DWG-CA |
| IRESS | DWG.NEO@NLB | DWG.NEO@NEO | DWG.NEO@NDB | DWG.NEO@CDX |
| Fidessa | DWG.NLT | DWG.NEN | - | DWG |
| ITS | DWG-Z | DWG-E | n/a | DWG |
NEO Connect Resources
List of Dealers & Manufacturers
View| List of Dealers: | List of Manufacturers: |
|---|---|
| Aligned Capital Partners | 3iQ Digital Asset Management |
| Canaccord | Antrim Investments |
| CI Investment Securities Inc. | Amur Capital Inc. |
| Desjardins | Canadian Mortgages Inc. |
| Echelon Wealth Partners | Exponential |
| Fidelity | Invesco Canada |
| Foster & Associates Financial Services | Kingwest & Company |
| GMP | Murabaha Inc. |
| IA Securities | Ninepoint Partners LP |
| ITG Canada | Provisus Wealth Management |
| Jitneytrade | Stone Investment Group |
| Laurentian Bank Securities | Westbridge Capital Ltd. |
| NBCN | |
| NBF | |
| PEAK Financial | |
| Qtrade | |
| Raymond James | |
| WealthBar Financial Services | |
| Wellington-Altus Private Wealth |
Market Data Access
ViewNEO Connect market data is now available providing information about PTFs (Platform Traded Funds) through all major data distributors including Thomson One, Bloomberg and other popular advisor and investor tools.
| Data Vendor | Symbol Appendix |
|---|---|
| ACTIV Financial | IVIG.NEOC |
| Bloomberg | IVIG:CN |
| Market-Q | See Fund Directory |
| Quotemedia | IVIG:CA |
| ThomsonOne | IVIG-GD |
| OMS Vendor | Symbol Appendix |
|---|---|
| IRESS | IVIG@NLB |
| Fidessa | IVIG.NLT |
| ITS | IVIG-Z |
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