Wednesday September 2 2015
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Canada
Link: http://www.iiroc.ca/Documents/Marketplace%20Thresholds%20August%202015%20NR_EN.pdf
The Investment Industry Regulatory Organisation of Canada (IIROC) today published guidance on the establishment and operation of price thresholds by Canadian marketplaces to further reduce short-term, unexplained price volatility and address risks arising from electronic trading.
The guidance takes effect on 25th August 2016.
IIROC currently regulates trading activity on all lit and dark equity marketplaces in Canada. The new guidance sets specific price thresholds for securities beyond which a marketplace must preclude trading activity. A marketplace threshold is to be triggered when an order is received that would exceed the prescribed threshold level if executed. All marketplaces, including dark marketplaces, will be required to implement marketplace thresholds.
Click on the link above for further details.