Metrics That Matter: Canadian Cash Equities

November Highlights

• Canadian equities volumes remained strong at 1.42 billion Average Daily Volume (ADV), up 27% year-over-year
• Cboe Canada’s four trading books captured 13.0% market share in November, up 50 basis points month-over-month
• NEO-N has shown consistent growth since August and recorded its best month of 2025 in November, reaching 2.4% of overall market share and 3.4% of sub-dollar market share
• Two Cboe Canada listed companies, Abaxx Technologies (ABXX) and BTQ Technologies (BTQ), were added to the MSCI Canada Small Cap Index during the November 24, 2025 rebalance. For the month, 720,000 shares of ABXX and 1.9 million shares of BTQ traded in the NEO-L Closing Call (see section 5.3 of the Trading Functionality Guide for details)

Upcoming Changes

• January 13, 2026: Cboe Canada will introduce a new “Net asset value (NAV)” intentional cross in the Crossing Facility.
• February 2, 2026: Cboe Canada will begin offering Members a new optional connectivity service known as Dedicated Cores.

Insights and News

• Market Metrics That Matter: Your Monthly U.S. Cash Equities Volume Briefing
• The Hidden Advantage: Cboe's Premium Products in the Era of Non-Displayed Trading
• Index Insights: November
• Tales of the Tape: The Rise of U.S. Structured Products

New Listings

In November, twenty new Canadian Depositary Receipts (CDRs) from BMO were listed, along with six Exchange Traded Funds (ETFs) from BMO, three ETFs from Manulife, and one ETF from Purpose Investments.

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