IIROC Extends Comment Period On Marketplace Threshold Rules

On August 13, IIROC announced the extension of the comment period regarding its proposed set of marketplace threshold rules. As we discussed in a post of May 17, IIROC proposed two guiding principles, specifically that (i) marketplace thresholds should generally preclude the execution of orders that would otherwise require regulatory intervention by IIROC due to the trigger of a single-stock circuit breaker or the application of policies regarding the variation and cancellation of trades; and (ii) the application of marketplace thresholds should have the least amount of impact on price discovery and access to tradable liquidity.

While comments were initially due by August 8, IIROC has now extended the comment period until September 10, 2012. For more information, see IIROC Notice 12-0250.