Notice of Commission Approval - Recognition as a Stock Exchange - Canadian Trading and Quotation System Inc. (CNQ)

On May 7, 2004, the Commission recognized the Canadian Trading and Quotation System (CNQ) as a stock exchange. The Commission also revoked the order, dated February 28, 2003, recognizing CNQ as a QTRS.

In connection with the recognition, the Commission approved the following documents:

1. Recognition order with terms and conditions -- The Commission issued an order recognizing CNQ with terms and conditions based on recognition criteria. The order also revokes the previous Commission order recognizing CNQ as a QTRS. A copy of the recognition order is published in Chapter 2 of this bulletin.

2. Amendments to CNQ Rules, Policies and Forms -- The Commission approved amendments to CNQ's rules, policies and forms that were required to reflect CNQ's recognition as a stock exchange. The amendments are published in Chapter 13 of this bulletin. They have been blacklined to show changes made from the version that was published for comment.

The CNQ application for recognition as a stock exchange was published for comment on November 21, 2003 at (2003) 26 OSCB 7643. Three comments were received. A summary of comments and the response prepared by CNQ is published in Chapter 13.