Bloomberg Tradebook LLC has received an extension of its exemption from the rules governing alternative trading systems.

The Ontario Securities Commission made the decision granting relief on an application to regulators in B.C., Alberta, Ontario and Quebec. The OSC ruled that Tradebook LLC is exempt from the requirements of the ATS rules until July 1, or until Bloomberg Tradebook Canada is in a position to comply with all of the requirements of the ATS rules; whichever comes first. It had received a similar exemption on December 1, but it expired April 1.

Tradebook LLC markets and operates the Bloomberg Tradebook System, an electronic trading system in equity and fixed income securities. Although approximately 90% of its activity is limited to order-routing, it does have an internal order-matching facility which constitutes it as an alternative trading system under the ATS Rules. Tradebook LLC offers the Bloomberg Tradebook System to institutional investors, brokers and dealers in Ontario, B.C., Quebec and Alberta.

Bloomberg is still working to obtain membership in the Investment Dealers’ Association. It has also applied for registration as an investment dealer in each province. It has also had on-going discussions with staff of the Ontario Securities Commission regarding compliance under the ATS rules.