Notice of Approval - Amendments to Trading System Functionality & Features - On-Stop Orders - Canadian Securities Exchange
Notice 2017-012
INTRODUCTION
In accordance with the Process for the Review and Approval of Rules and the Information Contained in Form 21-101F1 (the "Protocol"), CNSX Markets Inc. ("CSE") has adopted, and the Ontario Securities Commission (OSC) has approved, significant changes to the Trading System functionality related to order types.
On May 12th, 2017, CNSX Markets Inc. ("CSE") published Notice 2017-010 -- Amendments to Trading System Functionality & Features and Request for Comment -- On-Stop Orders. The period for public comment expired on June 12, 2017. No public comment letters were received.
DESCRIPTION OF THE AMENDMENTS
On-Stop orders are limit or market orders that are inactive and undisplayed until the market price (National Last Sale Price) hits or passes through a specified trigger price. The orders may be entered with a fixed trigger price, or a trailing price, offset from the last sale price.
On-Stops are an existing order type previously available on the CSE and currently in use on other marketplaces.
The full text of the amendments is available in Notice 2017-010:
http://thecse.com/en/about/publications/notices/notice-2017-010-amendments-to-trading-system-functionality-features-and
IMPLEMENTATION
The functionality will be introduced to the GTE on July 14, 2017.
Implementation date in the Trading System will be September 14, 2017.
Questions about this notice may be directed to:
Mark Faulkner, Vice President Listings & Regulation,[email protected], or 416-367-7341