Market Metrics That Matter: Your Monthly Canadian Cash Equities Volume Briefing

November 12, 2025

October Highlights

In October, Cboe Canada’s four trading books represented 12.5% market share

NEO-L at 6.48%
NEO-N at 2.21%
NEO-D at 0.26%
MATCHNow at 3.55%

In October Cboe BIDS Canada traded 76.9 million shares or 3.5 million Average Daily Volume (ADV)

Average trade size (Notional Value): $408,938
Average trade size (Volume): 11,299
Average price improvement: 7.77 basis points (bps)

Cboe BIDS Canada comprises four sources of liquidity

Buy side sponsored trades
Conditional algo logic
IOC Willing to Trade (Available as a port default)
Passive Willing to Trade (Available as a port default)

Cboe Announces Plans to Sell Cboe Canada

Cboe Global Markets announced plans to sell Cboe Canada and Cboe Australia as part of a strategic realignment to sharpen the company’s focus on core strengths and emerging growth opportunities. In the press release announcing these changes, Chris Issacson, Executive Vice President and Chief Operating Officer said: "Our Australian and Canadian equities businesses have consistently performed well and earned a reputation for innovation, reliability, and customer service. We believe these businesses are well positioned for future growth under new ownership."

Upcoming Changes

Proposed Significant Change and Fee Change to Cboe Canada’s Dedicated Cores

Cboe is proposing to offer Members a new optional connectivity service known as Dedicated Cores. Historically on Cboe Canada, and up until the present day, Central Processing Units (CPU Cores) have been shared by Members’ logical order entry ports.

The introduction of Dedicated Cores will allow a Member to assign its selected individual Binary Order Entry (BOE) logical order entry ports to a single dedicated CPU Core (or Dedicated Core).
Use of Dedicated Cores can provide reduced latency, enhanced throughput and improved performance, since a Member using a Dedicated Core is utilizing the full processing power of that CPU Core, instead of sharing that power with other Members.

This offering will be completely voluntary and available to all Members.