Canada's alternative stock exchange, the CNQ, has lowered its fee structure and changed its name to the Canadian National Stock Exchange (CNSX).
The CNSX changed its fee schedule to offer lower trading rates based on a per-share model. Fees will range between $1 and $50. Its different fee levels will be based on whether the prices of securities traded are above or below $1.
The CNSX has also migrated to the same trading platform used by Pure Trading, an alternative electronic trading network (ECN) used to trade securities listed on the Toronto Stock Exchange.
The CNSX provides listing, trading and market data for about 100 companies across Canada and aims to compete against the TSX and TSX-Venture exchanges.
The move comes as another alternative stock trading system, Alpha, comes online today.