Software glitch disrupted markets in August 2012
IIROC guidance on management of stop loss orders aimed at protecting market integrity
The trading price dropped 35% in 24 seconds due the automatic triggering of a number of stop loss orders
Firm failed to comply with trading supervision obligations
Trading activity increased the monthly trading volume for Discovery Air shares by as much as 24% in one month
Regulator alleges Discovery Air trades created a misleading appearance
Regulator responding to investor allegations
Stop loss orders trigger 55% price drop in less than one second
CSA/IIROC working group does not believe that additional measures are needed
Proposed rule would require dealers to report all debt market transactions