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Home/Stock Exchanges/Canadian Securities Exchange (CSE)
Stock Exchange·North America

Canadian Securities Exchange (CSE)

A Toronto-based exchange for emerging companies, with streamlined listing and ongoing requirements.

Headquarters
Toronto, Canada
Region
North America
Market Focus
Emerging & Micro Cap

Overview

The Canadian Securities Exchange is a recognised Canadian stock exchange for emerging and smaller companies, operated independently of TMX Group. It positions itself on streamlined listing requirements and lower costs than the senior Canadian markets.

It takes a disclosure-based approach, with companies responsible for continuous public disclosure rather than extensive exchange review.

Known For

  • Technology, mining, life sciences and cannabis companies
  • A lower-cost route to a public listing in Canada
  • Faster listing timelines than the senior exchanges
  • Many listed companies also quoted in the US on the OTC markets

Listing Considerations

  • Listing and ongoing fees are lower than on the TSX or TSX Venture
  • The investor base is largely retail, with limited institutional coverage
  • Liquidity in many listed names is thin
  • Canadian securities law applies, administered by the provincial regulators

Key Facts

Founded
2001 (as CNQ)
Operator
CNSX Markets Inc.
Regulator
Ontario Securities Commission and other provincial regulators
Main Index
CSE Composite Index
Currency
Canadian dollar (CAD)
Trading Hours
9:30 a.m. – 4:00 p.m. ET, Monday–Friday
Market Segments
Single market, with an NV Issuer designation for larger companies
Official website →

Listing Requirements

  • Public float of at least 1 million freely tradeable shares, held by at least 150 public holders each with a board lot
  • Public float of at least 20% of shares outstanding
  • An operating business or advanced project, with working capital for the business plan
  • Audited financial statements and a CSE listing statement or prospectus
  • Higher thresholds for the NV Issuer designation and for SPACs
Headline requirements from CSE Policy 2 as amended in April 2023, checked November 2026.
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