OSC Notice and Request for Comment – Proposed Universal Market Integrity Rules Amendments Respecting Designations and Identifiers – Investment Industry Regulatory Organization of Canada (IIROC)

Market Regulation Document Type
IIROC rule review

IIROC is publishing for public comment proposed amendments to the Universal Market Integrity Rules (UMIR). The proposed amendments to sections 1.1 and 6.2 of UMIR would introduce two new order designations (bundled order designation and derivative-related cross designation) and modify the existing bypass order marker from a public to a private marker for bypass orders that are not part of a designated trade. The purpose of the new order designations is to enhance trading transparency and improve efficiency by eliminating the requirement to file an end-of-day regulatory marker corrections report in certain instances. The change in the existing bypass order designation from a public to a private marker would help to prevent potential information leakage to the public.

A copy of the IIROC Notice, including the proposed amendments, is published on our website at www.osc.gov.on.ca. The comment period ends on August 8, 2016.