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ARTICLE · 04 JULY 2016

IIROC Proposes Amendments Relating To Designations And Identifiers

Proposed amendments to the Universal Market Integrity Rules will introduce two new order designations: bundled order designation and derivative-related cross designation.

CanadaCorporate/Commercial Law

Proposed amendments to the Universal Market Integrity Rules will introduce two new order designations: bundled order designation and derivative-related cross designation.  These proposed amendments are intended to enhance trading transparency and improve efficiency.  The proposed amendments will also modify the bypass order marker to a private marker if the applicable bypass order is not part of a designated trade.  Bypass order markers are currently public markers – this proposed amendment is intended to prevent leaks to the public. 

The Investment Industry Regulatory Organization of Canada is accepting comments until August 8, 2016.  For further information, please consult IIROC Notice 16-0123.

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