I am advised that AON orders will no longer be accepted on the Toronto Exchange after December 12, but am unable to find any official confirmation.
Their demise will not be regretted by most. They were placed in the “terms” market and there was very little (if any) electronic communication between the terms and regular markets – the regular market could be showing size in excess of the AON size at a better price, without the AON order being executed, if I remember correctly.
Still, this will help out the industry’s lack of commissions – it will now be even easier for them to execute Granny’s 500 share order at 100 shares per day, extracting the “minimum commission” each time.
A belated update from TD Waterhouse (my tardiness, not theirs):
“Please be advised that both the Toronto Stock Exchange (TSX) and TSX Venture Exchange ( TSXV) have made the decision to eliminate the ability to enter or execute All or None (AON) orders effective January 19, 2009. Please note that this date has been changed from December 15, 2008.”