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CANADIAN TRADING AND

QUOTATION SYSTEM INC. (CNQ)

REPEAL OF RULE 10-105 --

RISK DISCLOSURE STATEMENT

NOTICE OF COMMISSION APPROVAL

On January 24, 2006 the Commission approved the repeal of CNQ Rule 10-105 regarding the risk disclosure statement. The proposal to repeal Rule 10-105 was published for comment on August 12, 2005, at (2005) 28 OSCB 6793. Seven submissions were received during the comment period. A summary of the comments received and the responses of CNQ are published in Chapter 13 of this Bulletin.