The Globe and Mail reports in its Tuesday edition TMX Group is following the advice of the Ontario Securities Commission and proposing changes to its stock-trading fee model that will see costs come down for passive traders and raise the cost of doing business for high-frequency traders. The Globe's Niall McGee writes TMX Group plans to rejig its so-called "maker-taker" model starting June 1 on the Toronto Stock Exchange, the TMX Venture Exchange and TSX Alpha Exchange. Under the maker-taker model, active traders such as high-frequency traders receive a rebate for trading a stock and passive investors who take the other side of the trade pay a fee. The TMX makes money by pocketing the difference, which is a fraction of a penny per stock. Under the proposed changes, taker fees will come down by an average of 26 per cent, while maker rebates will be reduced by 31 per cent. In May, 2014, the OSC suggested a cap on fees to trade a stock priced above $1 of 0.3 cent ($0.003) a share. The biggest knock against the maker-taker model is that critics believe it punishes traditional investors who pay to trade, while it incentivizes high-frequency traders who get paid to trade.