Bloomberg Tradebook Canada Company et al. – s. 144

Headnote

Subsection 144(1) of the Securities Act (Ontario) -- application for order revoking the Commission's orders requiring alternative trading systems to comply with Process for the Review and Approval of the Information Contained in Form 21-101F2 and the Exhibits Thereto (ATS Protocol) -- revocation required to reflect changes to ATSs operating in Ontario -- requested order granted.

Applicable Legislative Provisions

Securities Act, R.S.O. 1990, c. S.5, as am., s. 144(1).

March 21, 2024

IN THE MATTER OF
THE SECURITIES ACT, R.S.O. 1990, CHAPTER S.5, AS AMENDED
(Act)

AND

IN THE MATTER OF
BLOOMBERG TRADEBOOK CANADA COMPANY,
CANDEAL MARKETS INC.,
 COINSQUARE CAPITAL MARKETS LTD.,
CHI-X CANADA ATS LIMITED,
EQUILEND CANADA CORP.,
INSTINET CANADA CROSS LIMITED,
LIQUIDNET CANADA INC.,
MARKETAXESS CANADA COMPANY,
PERIMETER MARKETS INC.,
TMX SELECT INC.,
TRADELOGIQ MARKETS INC.,
AND
TRIACT CANADA MARKETPLACE LP

ORDER 
(Section 144 of the Act)

WHEREAS each of Bloomberg Tradebook Canada Company (Bloomberg), CanDeal Markets Inc., Coinsquare Capital Markets Ltd. (Coinsquare), Instinet Canada Cross Limited, Liquidnet Canada Inc., MarketAxess Canada Company, Perimeter Markets Inc., and Tradelogiq Markets Inc. (together, Marketplaces) is an alternative trading system (ATS) carrying on business in Ontario;

AND WHEREAS the Ontario Securities Commission (Commission) issued orders dated June 22, 2012, and varied on September 29, 2015 and August 31, 2020 (ATS Orders), requiring each of the Marketplaces, by the names at which they were then known, with the exception of Bloomberg and Coinsquare, in addition to Chi-X Canada ATS Limited, Equilend Canada Corp., TMX Select Inc., and TriAct Canada Marketplace LP (Former Marketplaces) to follow the Process for the Review and Approval of the Information Contained in Form 21-101F2 and the Exhibits Thereto (ATS Protocol), appended to the ATS Orders as Appendix A;

AND WHEREAS the Commission issued an order dated July 30, 2021 requiring Bloomberg to follow the ATS Protocol (Bloomberg ATS Protocol Order);

AND WHEREAS the Commission issued an order dated October 19, 2022 requiring Coinsquare to follow the ATS Protocol (Coinsquare ATS Protocol Order);

AND WHEREAS the Chief Executive Officer of the Commission made an application under section 144 of the Act requesting an order to revoke the ATS Orders, Bloomberg ATS Protocol Order, and Coinsquare ATS Protocol Order (together, the ATS Revocation Relief);

AND WHEREAS the ATS Revocation Relief is required to reflect name changes of certain Marketplaces, consolidate the Bloomberg ATS Protocol Order and Coinsquare ATS Protocol Order with the ATS Orders, and reflect that the Former Marketplaces no longer carry on business in Ontario as ATSs;

AND WHEREAS the Bloomberg ATS Protocol Order and Coinsquare ATS Protocol Order do not materially differ from the ATS Orders;

AND WHEREAS the Commission is simultaneously issuing a separate Order requiring each of the Marketplaces, as currently named, to comply with the ATS Protocol;

AND WHEREAS all Marketplaces have consented to an order for the ATS Revocation Relief;

AND WHEREAS the Former Marketplaces have ceased operating (though Equilend, LLC, an affiliate of Equilend Canada Corp., does operate in Canada pursuant to a decision for exemptive relief issued on January 3, 2024);

AND WHEREAS in the Commission's opinion, it would not be prejudicial to the public interest to issue an order for the ATS Revocation Relief;

IT IS ORDERED that, pursuant to section 144 of the Act:

1. the ATS Orders are revoked;

2. the Bloomberg ATS Protocol Order is revoked; and

3. the Coinsquare ATS Protocol Order is revoked.

DATED this 21st day of March, 2024.