Briefly:

The TMX Group is cutting its trading fees on securities that trade at $1 and higher on Toronto Stock Exchange and TSX Venture Exchange. The changes will take effect on April 1 and are subject to regulatory approval.

The current three-tier fee structure will also be replaced by a simpler two-tier structure. The fee per share on active trades for the lower tier (less than 250 million shares per month) will be reduced to $0.0035 and the passive trade rebate will be $0.0031. For the higher tier (250 million shares per month and higher), the fee on active trades will be $0.0034 per share and the passive trade rebate will be $0.0031 per share.

“These measures are intended to encourage higher volume and liquidity levels, reduce the cost of raising capital for listed issuers and strengthen the Canadian capital markets overall,” said Kevan Cowan, group head TMX Equities and president TSX Markets.

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Online tool aids retirement options

Great-West Life is giving customers another tool to help with their financial planning.

Their new online calculator at www.my1percentadvantage.ca shows clients how an increase in contributions to their employer-sponsored group retirement savings plan can increase their annual income in retirement.

With Canadian employers increasing contributions to their group retirement savings plans and more employees maximizing their contributions, Great-West expects their tool will assist customers with achieving their retirement goals.

(03/22/10)

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.