TSX Buy-Ins
In order to support CDS in cases where a seller has failed to deliver a security following a trade, TSX has developed a special "Buy-In" facility to locate alternate sellers capable of immediately delivering the security, therefore enabling CDS to quickly and efficiently clear the failed position.
Buy-In Procedures
On a daily basis, CDS provides a list of securities that Participating Organizations have failed to make delivery on.
1:30 PM (1st Cycle) - TSX receives and posts the preliminary Buy-In list. At this point, other Participating Organizations have the opportunity to provide liquidity by submitting Buy-In orders.
2:45 PM (2nd Cycle) - TSX receives and posts the Final Buy-In list. This list identifies the remaining securities that still need to be delivered.
3:00 PM - Cut-off for accepting Buy-In orders
Upon completion of the Buy-In period, TSX allocates fills on an equal by member basis to the sellers and calculates a price. This price is based on the last board lot trade before 3:00 plus a premium.
Buy-In Price = Last Board lot Sale Price + Premium
TSX manually enters these trades that are cleared by CDS on a same-day basis. Between 3:20 and 3:40, TSX Trading Services will provide transaction confirmations. This process efficiently clears failed delivery trades and helps to maintain overall market integrity.
For additional information about Buy-Ins or to participate in a Buy-In, please contact Trading Services.
Updated: September 6, 2024 at 2:40 p.m.
Download: Final List
Market | Description | Symbol | Quantity |
---|---|---|---|
TSX | MACKENZIE ALL EQT ETF CAD UN | MEQT | 436 |
TSX | UNITED CORPS LTD 1ST PFD | UNC.PR.A | 285 |
TSXV | NUGEN MED DEVICES INC COM | NGMD | 54,108 |
TSXV | CLEAN ENERGY TRANS INC COM | TRAN | 40,000 |
TSXV | CLEANTEK INDUSTRIES INC COM | CTEK | 30,783 |
TSXV | STRIA LITHIUM INC COM NEW | SRA | 11,373 |