September 27, 2022Advisory Notice A22-011

Simplification of current, à-la-carte service fees into service packages

Montréal Exchange (the "Bourse") wishes to inform market participants that it is simplifying its fee schedule for software services. The Bourse is discontinuing its current, à-la-carte fee model and implementing a service-package model. The Bourse anticipates a service-package model will help clients better understand and manage their usage, while reducing administrative burden.

To that end, the Bourse is circulating a contract that amends its service agreements to enable billing using the service package model. This contract enables clients to select their desired service package(s). It also removed the Canadian Derivatives Clearing Corporation from certain of the service agreements, as its inclusion in these agreements was part of a legacy delivery system that is no longer in place. MX is and will continue to be solely responsible for providing software services for the exchange.

Overview of service packages

Market participants may select among five service packages. A service package consists of a set of allocations of logins/connections to software services for a monthly fee. Clients may select one package, more than one package, and multiples of the same package. The packages are:

- ISV: a minimal service package intended for vendors and developers

- Basic: a smaller package which includes a number of key MX services

- Standard: a general service package intended for most clients

- Options Market Maker: a package emphasizing services used by clients making options markets

- Deluxe: a large package for universal clients

In addition, clients may add 10 extra OR/FIX logins using the OR/FIX booster package.

Implementation timeline

The service-package model will come into effect upon the Bourse publishing a new fee schedule reflecting the service-package billing model. The Bourse will notify market participants of the fee change by publishing a Circular and will give 30 days' notice, as with other fee changes.

Description of fees and allocations in the service packages

Services	ISV package $600/month per ISV	Basic package $1200/month per AP	Options market maker package $2000/month per AP	Standard package $4000/month per AP	Deluxe package $7800/month per AP	OR booster $1500/month per AP
TMS + APS or FIX TM API	-	4 logins	5 logins	20 logins	20 logins
OR or FIX sessions	-	6 connections	10 connections	40 connections	50 connections	10 more connections
PTV SAIL API	-	2 logins		5 logins	5 logins	-
Sail BQ (for options market makers only)	-	-	10 connections	-	10 connections	-
Sail PQ (for options market makers only)	-	-	10 connections	-	10 connections	-
TMX Connect Web PTV	-	-	-	20 logins	20 logins	-
SAIL/FIX ATR Drop Copy	-	2 connections	2 connections	20 connections	20 connections
Participant activity reports	1 SFTP connection	-	-	1 SFTP connection	2 SFTP connections	-
LOPR/LOPR API	-	4 logins	4 logins	6 logins	12 logins	-
TMX Connect Tableau	-	-	5 logins	2 logins	5 logins	-

For all the bundles, except Basic, protocol certifications are included.

For more information regarding this notice, please contact Market Operations Team

Derivaties Technical operations
Toll-free: 1-877-588-8489
Telephone: 514-871-7872
Email: derivatives.operations@tmx.com