Listing Requirements of the Canadian Securities Exchange – CSE

– *updated August 30, 2015 –

canadian securities exchangeThe Canadian Securities Exchange (CSE) began operation in Canada in 2004. It originally operated as the Canadian Trading and Quotation System Inc. (CNQ). It changed its name to the Canadian National Securities Exchange (CNSX) in November of 2008. It changed its name from CNSX to its current name, the Canadian Securities Exchange (CSE), in January 2014.

At the close of 2014, the CSE had 244 listed companies, debt securities and structured products trading on its exchange. This represented a 34% increase in the number of securities trading on the exchange since the start of the year. As of July 31, 2015, there are 291 listed companies, debt securities and structured products trading on the CSE.

The listing requirements for the Canadian Securities Exchange are as follows:

  •  fully reporting in at least one province in Canada,
  • not a blank check or inactive company,
  • minimum of 150 public stockholders holding a minimum board lot of 100 shares each,
  • minimum of 500,000 shares publicly held,
  • freely tradable shares must be worth a minimum of C $ 50,000,
  • operating companies must have achieved revenue from sale of goods or services,
  • non-operating entities must have a reasonable plan to develop an active business and the financial resources to carry out that plan,
  • either a cash generating capacity, or a recent history as a listed company and minimum working capital of C $50,000, or a minimum working capital of C $100,000,
  • officers, directors, related persons and investor relations persons associated with the company must have a clean record (clean RCMP and regulatory record),
  • company must not have entered into a settlement agreement with a securities regulator or other authority, known to be related to another offender, or have a consistent record of business failures (particularly with public companies),
  • agreement to comply with corporate governance requirements,
  • must have letter from market maker agreeing to act as a market maker for securities of company once approved for listing, and
  • business plan projecting the activities and financial condition of the company for 12 months from application date.

If you are planning to list of the CSE feel free to print off our CSE Listing Application Checklist.

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    Alixe Cormick is the founder of Venture Law Corporation in Vancouver, British Columbia and a member of Commercialization Advisory Board of the Life Science Institute at the University of British Columbia, the Advisory Board of the National Crowdfunding Association and two private tech companies. She is also a member of the Pacific Northwest Keiretsu Forum, an association of accredited private equity angel investors, venture capitalists and corporate/institutional investors, and Vantech Angel Technology Network, a Vancouver angel group. You can reach Alixe by phone at 604-659-9188, by email at, on twitter @AlixeCormick or on Google+.