Notice of Commission Approval of Proposed Changes - No-Self Cross Feature - Chi-X Canada ATS and CX2 Canada ATS

Market Regulation Document Type
Nasdaq CXC/Nasdaq CX2/Nasdaq CXD - ATS rule review and notices

On September 17, 2014, the Commission approved changes proposed by Chi-X Canada ATS Limited, applicable to both Chi-X Canada ATS and CX2 Canada ATS, to introduce a new option as part of the No-Self Cross Feature offered as part of the Chi-Controls Risk Management Suite. Subscribers will be able to select to have fill reports received for both orders without having a trade be reported on the public feed.

Although the Commission has approved the proposed changes, specific functionality related to the application of this feature across multiple dealers is under review, and is not to be used until OSC approval has been provided. We are proceeding with approval of the proposed changes in recognition of the importance of preventing wash trades in ensuring market integrity, and recognizing that certain marketplace service features can be effective tools for assisting dealers in meeting their obligations in this regard.

A notice requesting feedback on the proposed change was published on the OSC website and in the OSC Bulletin on May 15, 2014 at (2014), 37 OSCB 5067.  No comments were received.

Chi-X Canada ATS Limited is expected to publish a notice indicating the intended implementation date of the approved changes.