What is the NEO Exchange?
The NEO Exchange is a recognized Canadian exchange for senior public companies and investment products. Operating since mid-2015, NEO was launched with the stated purpose of providing Canadians with a stock exchange that puts the interest of capital-raising companies, investors and their dealers first. Today, NEO represents close to 10% of all volume traded in Canadian-listed securities, has more than 60 ETF listings, various Closed End Funds, and is actively working on expanding its corporate listings. Cannabis Strategies Acquisition Corp. has listed common shares, rights and warrants and Nobilis Health became the first company to cross-list on the NEO Exchange in March 2018.
At NEO, we are focused on senior companies because we believe companies need to be truly ready before they go public. This is reflected in our stringent listing requirements and a strong focus on liquidity and disclosure.
Click here for a complete view of all NEO-listed securities.
Why List on the NEO Exchange?
NEO is redefining the role of a national stock exchange. Our drive to understand and help meet the needs of public companies is what makes us stand out. NEO’s value proposition is simple: focus on reliable liquidity; help NEO-listed companies maximize investor awareness; leverage a streamlined disclosure-based listing process; and provide value for money.
Will a Company Ticker Symbol Change When Moving its Listing to NEO?
Securities will continue to trade under their existing symbols when they move to the NEO Exchange, unless the issuer decides it wants to use a different symbol.
Do Investors Need to Sell Positions and Buy Back on the NEO Exchange Following a Change in Listing Venue?
A change in listing exchange does not have an impact on the ownership positions of existing shareholders. Ownership positions that were built up while listed on another exchange will continue to exist when a company migrates to NEO. Trading in the company’s stock continues uninterrupted throughout the migration process.
Do Companies Listed on NEO Trade on Other Venues?
The vast majority of trading in NEO-listed securities occurs on the NEO trading platform, to the benefit of less fragmentation, better transparency and less opportunity for predatory trading strategies.
Can Any Investor Access Companies Listed And Trading On NEO? Can Investors Outside of Canada Do So?
All investors should be able to access securities listed and trading on NEO through their usual investment channels – whether a discount brokerage platform or full service dealer. NEO already represents close to 10% of all volume traded in Canadian-listed securities. All registered dealers in Canada, including the discount brokers, provide access to NEO. International investors will generally experience the same process as when trading on the TSX or TSXV.
Are Any Changes in the Availability of Trading Information Expected when a Company Moves its Listing to NEO?
NEO market data is available through all major market data providers in Canada and abroad, both top of book and full market depth. Real-time market data, including depth of book, is also available on the NEO Exchange website here: Market Activity
Does Access to NEO Market Data Cost Money? Is NEO Market Data Available on All Regular Retail Channels?
Real-time market data for NEO listed securities is free for all investors and is available through all major data distributors, including Bloomberg and Thomson One, and all major Canadian discount brokerage platforms.
Does it Cost More to Trade Securities on NEO?
Trading a listed security on NEO versus TSX or TSXV should not impact the cost of trading for investors.
Are There Any Technological Differences Between NEO and the TSX or TSXV?
Investors will see no difference in trading NEO-listed securities compared to trading TSX and TSXV listed securities. NEO utilizes state-of-the-art trading software and infrastructure, and follows the industry best practices and procedures to ensure the most secure trading environment. NEO leverages a third party technology platform that is operating some of the largest exchanges in the world. From a trading perspective, NEO has unique built-in functionality that benefits long- term investors by countering inappropriate trading behaviours and promoting liquidity.