(November 11 – 11:35 ET) – The
Ontario Securities Commission has
issued an order rescinding the
interim order which restricts
Instinet Canada’s ability to offer
trading in Canadian stocks to its
Canadian clients using the
Instinet system.
The rescinding order will take
effect when Instinet puts in place
an electronic trading capability in
Canadian equities for its clients.
This is expected to occur no later
than in the 1st quarter of 2000.
The Toronto Stock Exchange
supported Instinet Canada’s
application to lift the restrictive
order, issued in 1989. The TSE
permits member firms to operate
alternative trading systems
(ATS’s) that are integrated with
the TSE’s market. The interim
arrangement imposed on Instinet
Canada prohibited it from
offering these electronic trading
services.
-IE Staff
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