On November 1, 2016, the TSX Venture Exchange (Exchange) updated previous bulletins with regard to the adoption of four letter root symbols as stock tickers symbols. After obtaining regulatory approval for the amendments, the Exchange has now implemented amended Policy 5.8, which allows the Exchange to accommodate trading of four letter symbols.
The following amendments were also made to Policy 5.8:
- pursuant to new section 3.5, all of an issuer’s listed securities must have the same root symbol. A suffix must also be attached to the root symbol to identify the specific class of shares, preferred shares, rights, warrants, debentures, units, subscription receipts, installment receipts and that the securities trade in U.S. dollars. The root symbol plus the suffix must not exceed eight characters including periods;
- all applications for a CUSIP or ISIN number by Canadian companies must now be submitted through the CDS website; and
- the record date for stock splits being conducted by a push-out must now be at least seven trading days in advance of the stock split. The issuer must also notify the Exchange at least seven trading days in advance of the proposed record date. The Exchange notification procedure involves filing:
- The Share Consolidation/Split Filing Form (Form 5I); and
- The applicable fee prescribed by Policy 1.3 – Schedule of Fees.