The Ontario Securities Commission has granted an exemption to TradeWeb LLC, allowing it to register as an international dealer without following the requirement that it must act as underwriter in another jurisdiction.

The exemption order notes that TradeWeb, a New Jersey-based broker dealer, has filed an application for registration as a dealer. It is not presently registered in Ontario in any capacity under the Act.

It is also regulated as an alternative trading system in the U.S., where it operates as a broker-dealer, but not as an underwriter. So, without regulatory relief, it could not meet the requirements to register as an international dealer.

The OSC granted the order, provided that the firm carries on the business of a dealer in another country; and, that it can’t act as an underwriter in Ontario.