Replies to post #116544 on Sarissa Resources Inc (SRSR)

[downsideup]

CNSX does have a couple of benefits relative to others re the short trade...

They have an uptick rule: "Short sales must be made on an up or an even tick. CNSX and Pure Trading will book short sale market orders at the best possible execution price at all times post-opening until execution or expiry (as provided in UMIR, short market orders are not allowed before the opening). The trade price on short sale limit orders must be equal to, or greater than, the National Last Trade Price (NLTP). Short limit orders entered below the NLTP will be booked by the trading system at the NLTP and adjust with the NLTP (downward only) until the limit price is met or the order is fully executed. For Pure Trading, the NLTP is based on the last traded price of either the TSX/TSX-Venture or Pure Trading."

http://www.puretrading.ca/Storage/52/4720_CNSX_Markets_Order_Types_and_Functionality_02142012.pdf

They do still have a market maker exemption, but, the market maker rules are different, too...

I expect that there's somewhat more potential and utility in a CNSX listing than others... but, it will probably still require a couple of other "tricks" for any company to ensure that the markets will treat them and their investors fairly... given that neither the exchange rules, the law, or the regulators... currently provide adequate transparency or fairness.

[downsideup]

The market maker exemption at the CNSX is "mushy"... as what it says is

"Short Exempt Marker

This order marker allows users to bypass the short sale price restrictions under the specific circumstances as
permitted by UMIR."

And, then, of course... whenever you enable the tools that run the markets to screw around with the rules... they will:

http://www.osc.gov.on.ca/en/Marketplaces_srr-iiroc_20110225_rfc-short-sales.htm