Firms had said the existing approach is too prescriptive and outdated and it should be altered to accommodate changes in current market structure
The new rules combine the existing sets of dealer and marketplace rules into a single set of rules for all enforcement proceedings
Several markets will be considered unprotected for the purposes of the revised order protection rule
Nominations for the SRO’s market rules advisory committee are due July 29
Canada’s equities markets have been transformed over the past couple of years, with the launch of new trading venues and novel execution models. Now, regulators are laying down the laws for this brave new world. For almost two years, the Canadian Securities Administrators (CSA) has been contemplating fundamental reform to the equities market structure to […]
Most firms welcome more transparency, but many are concerned about rule clarity and documentation
The final amendments to the trading rules will introduce a cap on active trading fees and a methodology for setting data fees
With the launch of TSX Alpha Exchange, an unprotected market will be operating alongside protected markets for the first time
IIROC has also proposed amendments to trading rules to conform to the CSA’s policy approach
Odd-lot orders would not bet required to receive a better price when trading against a dark order: IIROC