CIX Trading has filed a proposal with the Ontario Securities Commission (OSC) to expand trading hours on its IntelligentCross ASPEN and ASPEN VERT marketplaces to 23 hours a day, five days a week.
If approved, CIX would be the first Canadian equity marketplace to offer 23/5 trading.
Jeff Foster, chief executive of CIX, said “Investors don’t stop making decisions when the closing bell rings, and neither should Canada’s capital markets. Our proposal brings Canadian markets in step with the way global markets operate today, giving Canadian and international investors greater flexibility while preserving the transparency, integrity, and regulatory oversight that define Canada’s financial system.
“This is about building a stronger, more competitive Canadian marketplace.”
The dual phase rollout plan will implement both early morning trading and 23/5 trading and is intended to address a pattern in which investors in dual-listed Canadian companies increasingly route overnight and early-morning order flow to US marketplaces.
CIX has confirmed that it is working with regulators, industry participants, technology vendors and prospective subscribers on surveillance and operational safeguards for the extended sessions.
The filing builds on an earlier approval CIX obtained to operate an alternative trading system (ATS), launching September 2026 and intended to enhance execution quality for Canadian investors, as well as coordinate Canadian market access and innovation with similar venues globally.
The proposal is subject to OSC review and public comment before any changes can take effect.