One would expect so, however, if you look at L2 bids and asks they certainly aren't skimpy. They're as stacked as they are on most days. An interesting one to explain considering your point. I also seriously doubt if any US investors or interests would allow a little something like that to get in their way if they knew some potential events were about to take place. Counterparts in Canadian companies could facilitate them I'm sure.

"With the USA market closed and small volume, does this mean that most trades are generated in the USA during normal hours ?"