CNSX Markets Inc. will be introducing a number of changes to the Pure Trading facility in the coming weeks in order to accommodate updates to the STAMP protocol, to implement changes to its FIX gateway, and to support the implementation of the “By Pass” order related functionality mandated by the Investment Industry Regulatory Organization of Canada (“IIROC”).

The key milestones for the project are as follows:

May 5:  a new release of the Pure Trading system is available in the GTE.  The principal feature of the new release is that orders entered into the system with a by pass marker will be accepted.  These orders will be treated as normal orders and will, until a further release of the system (further details below), trade against the reserve portion of any iceberg order eligible to trade against the in-bound order.

May 8: projected release date for the revised versions of the FIX and STAMP programmer’s guides for Pure Trading to permitted users.  The changes are primarily designed to bring the Pure Trading STAMP-based services into compliance with STAMP 5.0, and to implement changes to the FIX gateways to accommodate the by pass functionality.  Release notes summarizing the changes will be made available.       

May 21:  Scheduled production implementation of the May 5 GTE release.

Mid-June:  GTE availability of the system release (the “By Pass” release) with the STAMP 5.0, enhanced FIX and related functionality changes.

Mid-July:  projected production implementation of the By Pass release.

For further information about the by pass order type, please refer to IIROC notices 2008-008, 09-0034, and 09-0128.  Copies of these notices may be downloaded from the IIROC web site at www.iiroc.ca.

CNSX Markets Inc. reserves the right to amend the schedule.

Please address any questions or requests for further information to CNSX Market Operations at 416-306-0772 or marketops@cnsx.ca.