Notice of Commission Approval – Amendments Respecting Third-Party Electronic Access to Marketplaces – Investment Industry Regulatory Organization of Canada (IIROC)

The Ontario Securities Commission approved proposed amendments to the Universal Market Integrity Rules (UMIR) and the Investment Industry Regulatory Organization of Canada’s (IIROC) Dealer Member Rules respecting third-party electronic access to marketplaces (the Amendments). In addition, the British Columbia Securities Commission did not object to, and the Alberta Securities Commission, the Autorité des marchés financiers, the Saskatchewan Financial Services Commission, the Manitoba Securities Commission, the Nova Scotia Securities Commission, the New Brunswick Securities Commission and the Financial Services Regulation Division of the Department of Government Services of Newfoundland and Labrador have approved the Amendments. 

The Amendments, effective March 1, 2014, will align the requirements of UMIR and the IIROC Dealer Member Rules to National Instrument 23-103 Electronic Trading and Direct Electronic Access to Marketplaces. 

The Amendments were published for comment on October 25, 2012. Eight comment letters were received and a summary of the comments and IIROC’s response, as well as a copy of the approved amendments, can be found at www.osc.gov.on.ca.