Notice of Commission Orders– Application for Exemptive Relief – Trumid Financial LLC

On June 8, 2020, the Commission issued an order under section 15.1 of National Instrument 21-101 Marketplace Operation (NI 21-101), section 12.1 of National Instrument 23-101 Trading Rules (NI 23-101), and section 10 of National Instrument 23-103 Electronic Trading and Direct Access to Marketplaces (NI 23-103 and, together with NI 21-101 and NI 23-101, the Marketplace Rules) exempting Trumid from the application of all provisions of the Marketplace Rules that apply to a person or company carrying on business as an alternative trading system (ATS) in Ontario (Ontario Order), subject to terms and conditions as set out in the Order.

The Commission published Trumid’s application and draft exemption order for comment on March 5, 2020 on the OSC website at https://www.osc.ca/en/industry/market-regulation/marketplaces/alternative-trading-systems-atss/atss-operating-ontario/foreign-atss-orders-notices/notice-and-request-0 and at (2020), 43 OSCB 2282.

On December 11, 2020, Trumid applied to revoke and replace the Ontario Order (Revocation Order) with a decision exempting it from the application of all provisions of the Marketplace Rules that apply to a person or company carrying on business as an ATS in each of Alberta, British Columbia, Manitoba, Saskatchewan, Ontario, Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador, Prince Edward Island, Nunavut, Northwest Territories, and Yukon (the Requested Relief Decision) in order to provide its services in all other Canadian jurisdictions. On February 24, 2021, the Commission issued the Revocation Order and the Requested Relief Decision.

A copy of the Revocation Order and the Requested Relief Decision are published in Chapter 2 of this Bulletin.