NEW Competitive Liquidity Incentive Program

MX is pleased to announce a new Competitive Liquidity Incentive Program (CLIP) for key products in the Yield Curve Project, namely the Two- (CGZ) and Five-Year (CGF) Government of Canada Bond Futures and the Three-Month Canadian Bankers Acceptance (BAX) Futures third quarter pack (greens).

The CLIP is a program that allows participants in the Liquidity Provider Rebate Program (LPRP) to receive cash stipends when their monthly trading volume ranks in the top 10. Furthermore, these participants will receive a fee rebate equivalent to the execution fees incurred for the month in question on the eligible futures contracts.

Cash stipends

CGF & CGZ BAX Greens
RankStipendRankStipend
1st place$2,0001st place$2,000
2nd place$1,5002nd place$1,500
3rd place$1,2003rd place$1,200
4th place$1,0004th place$1,000
5th place$1,0005th place$1,000
6th place$1,0006th place$1,000
7th place$8007th place$800
8th place$5008th place$500
9th place$5009th place$500
10th place$50010th place$500

* While both outrights and spreads will be taken into account, block trades, exchange for risk (EFR) and exchange for physical (EFP) transactions will not be considered.

How to qualify for the program?

To qualify for the CLIP, participants must be registered in the LPRP. All participants in the LPRP are automatically registered for the CLIP.

Any cash stipends or fee credits earned through the CLIP will be in addition to the fee rebates provided through the LPRP.

Trading volumes will be tracked through whichever sub-account(s) each participant has registered under the LPRP.

Duration of the CLIP

The CLIP will run from January 1, 2013 to December 31, 2013.

For more information or to apply

All participants interested in the CLIP can contact François Vendette, Manager, Institutional Relations, by email at fvendette@m-x.ca.


Additional information
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