Notice of Commission Order – Variation Orders – Nodal Exchange, LLC

 
On September 29, 2017, the Commission issued a variation order pursuant to section 144 of the Securities Act (Ontario) (OSA) and section 78 of the Commodity Futures Act (Ontario) (CFA) (Exchange Variation Order) which varies the order exempting Nodal Exchange, LLC from the requirement to be recognized as an exchange (Exchange Exemption Order). The Exchange Variation Order:

• amends the definition of “Nodal Contract” in the Exchange Exemption Order;
• allows Nodal Exchange, LLC to provide direct access to Ontario Participants (as defined in the Exchange Exemption Order) that have obtained an exemption from the requirement to be registered under the CFA; and
• makes other minor non-substantive changes to update the Exchange Exemption Order.

The Commission also issued a variation order pursuant to section 144 of the OSA (Clearing Agency Variation Order) which varies the order exempting Nodal Clear, LLC from the requirement to be recognized as a clearing agency (Clearing Agency Exemption Order). The Clearing Agency Variation Order adopts the amended definition of Nodal Contract in the Exchange Variation Order, and makes other minor non-substantive changes to update the Clearing Agency Exemption Order.

Copies of the Exchange Variation Order and Clearing Agency Variation Order are published in Chapter 2 of this Bulletin