Toronto Exchange Confronts Controversial Trading Rebate System
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The Toronto Stock Exchange and its sister markets announced a step to curb one of the most controversial aspects of modern equity trading: the system of rebates and fees exchanges use to spur and reward transactions.
TMX Group Ltd., the owner of the Toronto Stock Exchange and other Canadian markets, said Monday that it will cut rebates it pays traders who provide liquidity by an average of 31 percent and trading fees by 26 percent on average.