Trading Hours & Holidays

Holidays

For additional information, please contact the General Secretariat and Legal Affairs department by email at legal@m-x.ca.

	Interest Rate Derivatives¹	Equity, Currency, ETF, Index Derivatives, Share Futures² and BTC
2023
January 2, 2023 In Lieu of New Year's Day	Closed	Closed
February 17, 2023 Day preceding Family Day	Closing at 1:30 p.m.	Regular schedule
February 20, 2023 Family Day	Closed	Closed
April 6, 2023 Day preceding Good Friday	Closing at 1:30 p.m.	Regular schedule
April 7, 2023 Good Friday	Closed	Closed
May 19, 2023 Day preceding Victoria Day	Closing at 1:30 p.m.	Regular Schedule
May 22, 2023 Victoria Day	Closed	Closed
June 30, 2023 Day preceding Canada Day	Closing at 1:30 p.m.	Regular schedule
July 3, 2023 In lieu of Canada Day	Closed	Closed
August 4, 2023 Day preceding Civic Holiday	Closing at 1:30 p.m.	Regular schedule
August 7, 2023 Civic Holiday	Closed	Closed
September 1, 2023 Day preceding Labour Day	Closing at 1:30 p.m.	Regular schedule
September 4, 2023 Labour Day	Closed	Closed
September 29, 2023 Day preceding National Day of Truth and Reconciliation	Closing at 1:30 p.m.	Regular schedule
October 2, 2023 In lieu of National Day of Truth and Reconciliation	Closed	Regular schedule
October 6, 2023 Day preceding Thanksgiving Day	Closing at 1:30 p.m.	Regular schedule
October 9, 2023 Thanksgiving Day	Closed	Closed
November 10, 2023 Day preceding Remembrance Day	Closing at 1:30 p.m.	Regular schedule
November 13, 2023 In lieu of Remembrance Day	Closed	Regular schedule
December 22, 2023 In Lieu of day preceding Christmas	Closing at 1:30 p.m.	Regular schedule
December 25, 2023 Christmas	Closed	Closed
December 26, 2023 Boxing Day	Closed	Closed
December 29, 2023 In Lieu of day preceding New Year's Day	Closing at 1:30 p.m.	Regular schedule
2024
January 1, 2024 In Lieu of New Year's Day	Closed	Closed

Interest rate derivatives: COA, CRA, BAX, CGZ, CGF, CGB, LGB, OBX, OGZ, OGF and OGB.
Equity, currency, ETF, index and share futures: Equity, currency options (US dollar), exchange-traded funds, index derivatives (SXF, SXM, SEG, SCG, SDV, SCF, SXA, SXB, SXD, SXG, SXH, SXK, SXR, SXS, SXT, SXU, SXW, SXY, SXO, SXJ and SXV) and share futures.

Please take note that early closings have no impact on the settlement and clearing of transactions. The daily settlement price will be determined based on the market activity at 1:00 p.m.

Trading Hours & Stages - Money Market Derivatives

All trading hours for products listed on SOLA are determined by the Montréal Exchange (MX). In the case of a modification to these trading hours or stages, MX will issue a circular describing the modification. All the trading hours mentioned below are in Eastern Time.

Pre-opening: Order entry, cancellation and modification permitted
No-cancellation: Order entry permitted; cancellation and modification not permitted
Opening: Order entry, cancellation and modification permitted
Closing: Order entry, cancellation and modification not permitted

Product	Pre-opening	No-cancel	Opening	Closing
BAX	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
OBW	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
OBX	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
OBY	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
OBZ	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
CRA	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
COA	1:30:00 a.m.	1:59:15 a.m.	2:00:00 a.m.*	4:30:00 p.m.**
Strategies
BAX	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**
OBW	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**
OBX	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**
OBY	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**
OBZ	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**
CRA	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**
COA	1:30:00 a.m.	1:59:15 a.m.	2:00:15 a.m.***	4:30:00 p.m.**

* +/- 15 seconds
** During early closing days, money market derivatives close for trading at 1:30 p.m.
*** Random opening will no longer be supported for strategies.

Trading Hours & Stages - Bond Market Derivatives

Pre-opening: Order entry, cancellation and modification permitted
No-cancellation: Order entry permitted; cancellation and modification not permitted
Opening: Order entry, cancellation and modification permitted
Closing: Order entry, cancellation and modification not permitted

Product	Pre-opening	No-cancel	Opening	Closing
CGZ	7:30:00 p.m.	7:59:15 p.m.	8:00:00 p.m.*	4:30:00 p.m.**
CGF	7:30:00 p.m.	7:59:15 p.m.	8:00:00 p.m.*	4:30:00 p.m.**
CGB	7:30:00 p.m.	7:59:15 p.m.	8:00:00 p.m.*	4:30:00 p.m.**
LGB	5:30:00 a.m.	6:59:15 a.m.	7:00:00 a.m.*	4:30:00 p.m.**
OGZ	7:30:00 p.m.	7:59:15 p.m.	8:00:00 p.m.*	4:30:00 p.m.**
OGF	7:30:00 p.m.	7:59:15 p.m.	8:00:00 p.m.*	4:30:00 p.m.**
OGB	7:30:00 p.m.	7:59:15 p.m.	8:00:00 p.m.*	4:30:00 p.m.**
Strategies
CGZ	7:30:00 p.m.	7:59:15 p.m.	8:00:15 p.m.***	4:30:00 p.m.**
CGF	7:30:00 p.m.	7:59:15 p.m.	8:00:15 p.m.***	4:30:00 p.m.**
CGB	7:30:00 p.m.	7:59:15 p.m.	8:00:15 p.m.***	4:30:00 p.m.**
LGB	5:30:00 a.m.	6:59:15 a.m.	7:00:15 a.m.***	4:30:00 p.m.**
OGZ	7:30:00 p.m.	7:59:15 p.m.	8:00:15 p.m.***	4:30:00 p.m.**
OGF	7:30:00 p.m.	7:59:15 p.m.	8:00:15 p.m.***	4:30:00 p.m.**
OGB	7:30:00 p.m.	7:59:15 p.m.	8:00:15 p.m.***	4:30:00 p.m.**

* +/- 15 seconds
** During early closing days, bond market derivatives close for trading at 1:30 p.m.
*** Random opening will no longer be supported for strategies.

Trading Hours & Stages - Index Derivatives

Pre-opening: Order entry, cancellation and modification permitted
No-cancellation: Order entry permitted; cancellation and modification not permitted
Opening: Order entry, cancellation and modification permitted
Closing: Order entry, cancellation and modification not permitted

Product	Pre-opening	No-cancel	Opening (early session)	Pre-opening	No-cancel	Opening (regular session)	Closing
SXF	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXM	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SDV	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SEG	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SCG	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SCF	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXA	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXB	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXH	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXY	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXK	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXU	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXD	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXG	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXR	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXT	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXS	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXW	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
BSF	7:30 p.m.	7:59 p.m.	8:00 p.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
Strategies
SXF	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXM	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SDV	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SEG	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SCG	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SCF	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXA	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXB	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXH	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXY	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXK	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXU	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXD	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXG	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXR	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXT	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXS	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.
SXW	7:30 p.m.	7:59 p.m.	8:00 p.m.	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:30 p.m.

* A trading range of -7% to +7% (based on previous day's settlement price) for index futures has been established for the early session only.

Product	Pre-opening	Opening	Closing
SXO	5:30 a.m.	9:31 a.m.	4:00 p.m.
SXJ	5:30 a.m.	9:31 a.m.	4:00 p.m.
SXV	5:30 a.m.	9:31 a.m.	4:00 p.m.

Trading Hours & Stages - Equity Derivatives

Pre-opening: Order entry, cancellation and modification permitted
No-cancellation: Order entry permitted; cancellation and modification not permitted
Opening: Order entry, cancellation and modification permitted
Closing: Order entry, cancellation and modification not permitted

Product	Pre-opening	Opening	Closing
Equity Options	5:30 a.m.	9:30 a.m.*	4:00 p.m.
ETF Options	5:30 a.m.	9:30 a.m.*	4:00 p.m.
Strategies
Equity Options	5:30 a.m.	9:35 a.m.*	4:00 p.m.
ETF Options	5:30 a.m.	9:35 a.m.*	4:00 p.m.

* The regular session of the equity option market opens at 9:30 a.m. Each option class then opens for trading when a trade occurs on its underlying security on Toronto Stock Exchange. If no such trade has yet occurred, the option class then opens for trading at 9:35 a.m.

Product	Pre-opening	No-cancel	Opening (early session)	Pre-opening	No-cancel	Opening (regular session)	Closing
Share Futures	5:30 a.m.	5:59 a.m.	6:00 a.m.*	9:15 a.m.	9:29 a.m.	9:30 a.m.	4:00 p.m.
Strategies
Share Futures	5:30 a.m.	5:59 a.m.	6:01 a.m.	9:15 a.m.	9:29 a.m.	9:31 a.m.	4:30 p.m.

* A trading range of -5% to +5% (based on previous day's settlement price) has been established for the early session only.

Trading Hours & Stages - Currency Options

Pre-opening: Order entry, cancellation and modification permitted
No-cancellation: Order entry permitted; cancellation and modification not permitted
Opening: Order entry, cancellation and modification permitted
Closing: Order entry, cancellation and modification not permitted

Product	Pre-opening	Opening	Closing
USX	5:30 a.m.	9:30 a.m.	4:00 p.m.

Daily Settlement Times Details

Settlement methodologies are detailed in Bourse rules (https://rules.m-x.ca/)

Interest Rate Derivatives

Product	*Daily Settlement Time
BAX - Three Month Bankers Acceptance	3:00 PM ET
COA - One Month CORRA Futures	3:00 PM ET
CRA - Three Month CORRA Futures	3:00 PM ET
CGZ - Two Year Government Bond Futures	3:00 PM ET
CGF - Five Year Government Bond Futures	3:00 PM ET
CGB - Ten Year Government Bond Futures	3:00 PM ET
LGB - Thirty Year Government Bond Futures	3:00 PM ET
OBW, OBX, OBY, OBZ - Options on Three Month Bankers' Acceptance Futures	3:00 PM ET
OGZ - Options on Two Year Canada Bond Futures	3:00 PM ET
OGF - Options on Five Year Canada Bond Futures	3:00 PM ET
OGB - Options on Ten Year Canada Bond Futures	3:00 PM ET

*Interest Rate Futures settle at 1 PM on early closing days.

Index Derivatives

Product	*Daily Settlement Time
SXF - S&P/TSX 60 Index Standard Futures	4:00 PM ET
SXM - S&P/TSX 60 Index Mini Futures	4:00 PM ET
SEG - S&P/TSX 60 ESG Index Futures	4:00 PM ET
SCG - S&P/TSX Composite ESG Index Futures	4:00 PM ET
SDV - S&P/TSX Dividend Index Futures	4:00 PM ET
SCF - S&P/TSX Composite Index Mini Futures	4:00 PM ET
SXA, SXB, SXD, SXG, SXH, SXK, SXR, SXS, SXT, SXU, SXW, SXY - Sector Index Futures	4:00 PM ET

*Interest Rate Futures settle at 1 PM on early closing days.

Equity Derivatives

Product	*Daily Settlement Time
Share Futures	4:00 PM ET

*Interest Rate Futures settle at 1 PM on early closing days.

For questions pertaining to settlements, please call the Montreal Exchange Operations team at 1-888-693-6366.