Regulators are seeking comment on a series of market-making reforms being considered by the TSX Group.

On December 17, 2002 the TSX board approved amendments to certain rules to implement reforms to the exchange’s current market making system.

The key elements of the TSX
s market making reforms are:

  1. the assignment of market making responsibilities to firms rather than specific individuals;
  2. the transfer of existing market making responsibilities to the firms upon the expiry of an appropriate individual notice period; and
  3. the introduction of new qualifications for market maker firms, including the introduction of minimum capital requirements to ensure that each market maker firm has the financial resources to effectively perform its market-making responsibilities.

The amendments will be effective upon approval by the Ontario Securities Commission following public notice and comment.

Comments on the proposed amendments are due by February 10.