Notice of Commission Approval – Proposed Amendments to Universal Market Integrity Rules (UMIR) 10.15 Relating to Provisions Respecting the Assignment of Identifiers and Symbols
INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC)
PROPOSED AMENDMENTS TO UMIR 10.15
RELATING TO THE PROVISIONS RESPECTING
THE ASSIGNMENT OF IDENTIFIERS AND SYMBOLS
NOTICE OF COMMISSION APPROVAL
The Ontario Securities Commission approved amendments to UMIR 10.15 relating to provisions respecting the assignment of identifiers and symbols. In addition, the British Columbia Securities Commission did not object to, and the Alberta Securities Commission, the Autorité des marchés financiers, the New Brunswick Securities Commission, the Nova Scotia Securities Commission, and the Saskatchewan Financial Services Commission have approved the proposed amendments.
The proposed amendments will provide that the Market Regulator will assign a unique identifier to a marketplace for trading purposes upon being retained as the regulation services provider for the marketplace. In addition, the proposed amendments will provide that each marketplace will assign: a unique identifier for each Participant granted access to that marketplace; and a unique symbol to each security listed or quoted on the marketplace or, in the case of a foreign exchange-traded security, traded on a marketplace. A marketplace will not be able to assign an identifier or symbol that is: different from the identifier or symbol previously assigned to the marketplace, Participant or security if such previously assigned identifier or symbol will continue to be used in respect of that marketplace, Participant, or security; the same as an identifier or symbol assigned to another marketplace, Participant or security if such previously assigned identifier or symbol will continue to be used in respect of that other marketplace, Participant or security; not in compliance with the provisions of any agreement between regulation services providers and marketplaces made in accordance with section 7.5 of National Instrument 23-101 (Marketplace Operation); or in a form or of a form that is not generally supported by the systems of market participants.
A copy and description of the proposed amendments were originally published as Market Regulation Services Inc.’s amendments on March 14, 2008, at (2008) 31 OSCB 3277. Four public comments were received.
The IIROC rules notice may be found in Chapter 13 of this Bulletin.