Friday April 21 2017
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Canada
Link: http://www.iiroc.ca/Documents/2017/f1bf3def-38d7-44b5-9fb4-607bca5412ef_en.pdf
On 29th March 2017, the Board of Directors of the Investment Industry Regulatory Organisation of Canada (IIROC) approved the publication for comment of proposed amendments to Dealer Member Rule (DMR) 200.2(l)(x)(B) on trade-confirmation suppression requirements (the Amendments).
The primary objective of the Amendments is to make the trade-confirmation suppression requirements more practical for Dealer Members whose quarterly compliant trade percentage is typically 90% or higher, but who may have one or two quarters over the last four quarters in which their quarterly compliant trade percentage is slightly below 90%.
Dealer Members and their institutional customers may benefit from not having to send and receive, respectively, a trade confirmation for a trade that is subject to DMR 800.49 (Broker-to-Broker Trade Matching) or National Instrument 24-101 (Institutional Trade Matching and Settlement) (NI 24-101) when specific criteria are met.
Comments are requested on all aspects of the Amendments, including any matter which they do not specifically address. Comments on the Amendments should be in writing and delivered by June 19, 2017.
Click on the link above for further details.