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ARTICLE · 14 JUNE 2016

IIROC Proposes Amendments Regarding Transparency In Debt Securities Trades

Stikeman Elliott LLP
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The Investment Industry Regulatory Organization of Canada (IIROC) is proposing amendments to the Dealer Member Rules dealing with market transparency in trades of domestic debt securities.

CanadaFinance and Banking
Stikeman Elliott LLP
Stikeman Elliott LLP
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The Investment Industry Regulatory Organization of Canada (IIROC) is proposing amendments to the Dealer Member Rules dealing with market transparency in trades of domestic debt securities.

Section 2100.1 and 2100.4(d) of the Dealer Member Rules are proposed to be amended to make them consistent with the requirements of National Instrument 21-101 Marketplace Operation (NI 21-101), including by eliminating the requirement that the IIROC Board of Directors recognize an organization that provides market transparency and by amending the definition of "information processor".    

In addition, the proposed amendments are intended to ensure that these provisions remain current when CanPX Inc. ceases operations as an information processor on June 30, 2016.  According to IIROC, the current drafting of the provisions do not support any other party acting as an information processor.  Parts of the Dealer Member Rules specifically name CanPX Inc. as an information processor –

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