Notice of Commission Decision – Application for Exemptive Relief – EquiLend LLC.

Market Regulation Document Type
EquiLend Canada Corp. orders and notices

On January 3, 2024, the Commission issued a decision under s. 15.1 of National Instrument 21-101 Marketplace Operation (NI 21-101), s. 12.1 of National Instrument 23-101 Trading Rules (NI 23-101), and s. 10 of National Instrument 23-103 Electronic Trading and Direct Access to Marketplaces (NI 23-103 and, together with NI 21-101 and NI 23-101, the Marketplace Rules) exempting EquiLend, LLC (EquiLend) from the application of all provisions of the Marketplace Rules in Ontario (the Decision), subject to terms and conditions as set out in the Decision. The Autorité des marchés financiers also issued its respective decision.

The Decision is consistent with CSA Staff Notice 21-328 Regulatory Approach to Foreign Marketplaces Trading Fixed Income Securities that outlines an exemption approach that is based on a substituted compliance model of ATS oversight.

A copy of the Decision is published in section B.3 of the Bulletin.

The Commission published EquiLend's application and draft decision for comment on November 23, 2023 on the OSC website. No comments were received.