Update - Amendments to Trading Policies - Auto Execution Facility - Aequitas NEO Exchange Inc.

On January 26, 2017, the Commission approved amendments to the Aequitas NEO Exchange (NEO) Trading Policies to add Auto-Execution Facility (AEF) requirements. NEO has informed the Commission that during the life cycle of this proposal it received a range of feedback, including some formal comments during the comment process, but in the 90 day implementation period it received further feedback from a number of members of the institutional trading community, in Canada and abroad, raising concerns about order flow segmentation in the Canadian markets. In response to these growing concerns NEO has decided not to implement the AEF at this time.

Any final decision by NEO to proceed with or withdraw the AEF functionality will be made by Friday, July 28, 2017.