RE: RE: Fills at 8.5 centsit is a IIROC rule that stipulates that the retail client must get the best price for their stock.
So if Alpha has the best price at the time of trade then the security will trade on Alpha . currently the TMX group has about an 80% market share so most trade will happen with them.
If a PO like TD,Scotia, CIBC try and place an order at another exchange with out getting the best price for the retail customer then they are fined..
As an aside BMO,CIBC,Scotia,TD,National Bank, RBC, Canaccord, CPPIB own Alpha.