Monday September 4 2017

News Source: Global Exchanges

Focus: Other

Type: General




In accordance with the Process for the Review and Approval of Rules and the Information Contained in Form 21-101F1, TSX Inc. has adopted, and the Ontario Securities Commission has approved, amendments to the TSX Rule Book to reflect enhancements to TSX’s market making program. The Amendments are public interest amendments to the Rules. 

The Amendments, together with certain other changes to TSX marketplace functionality, were published for public comment on April 6, 2017 to the Commission’s website and in the Commission’s Bulletin at (2017), 40 OSCB 3323.

 Summary of Comments and Changes to the Amendments 

 TSX received eight comment letters in response to the Request for Comments. A summary of the comments submitted, together with TSX’s responses, is attached at Appendix A . 

In response to comments received from participants and regulators, TSX has withdrawn the proposal that the execution of MGF trades be at the protected National Best Bid and Offer instead of the TSX Best Bid and Offer. TSX will also impose a cap on Market Maker Participation fills when only one of two Market Makers is participating to ensure that its Participation fills do not exceed its individual MGF size. A blackline of the changes to the Amendments since the Request for Comments is attached at Appendix B.  

 The Amendments will become effective on November 27, 2017.  

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