Protection growing to include “actively-traded” securities
All “actively traded” securities will be covered when new guidance takes effect in February 2015
List of single-stock circuit breakers would include all securities that are considered “actively traded”
Details of their proposals will be set out in rule filings and amendments subject to SEC approval
IIROC will continue to harmonize with the new U.S. market-wide safety valves
Proposed changes would mesh with U.S. reforms
Firms get more time to respond to Knight Capital trading glitch
The new “limit up-limit down mechanism” will replace the existing single-stock circuit breakers
The new circuit breakers will initially apply to all securities included in the S&P/TSX composite index, and ETFs that are comprised principally of listed securities
Planned changes in the United States have Canadian regulators pondering possible changes