(October 20 – 17:50 ET) – The Toronto Stock Exchange Inc. has approved a rule amendment that will allow faster approval of brokerage firms looking to become “Participating Organizations” of the TSE.
In the past, TSE membership could only be granted with the approval of the TSE board of governors, but now that board has given up that power. But since the TSE de-mutualized, it no longer has members.
The TSE will allow a senior officer of the exchange to approve applications to become participating organizations. “The amendments will speed up the approval process by eliminating the need to wait for the board to meet. The application review process and right of appeal to the board remain unchanged.”
These amendments, though announced today, took effect when they were approved by the board on September 26.
-IE Staff