RS Market Integrity Notice - Notice of Withdrawal - Definition of "Applicable Market Display"

Market Regulation Document Type
Market Regulation Services Inc. rule review

October 31, 2006

No. 2006-021

RS MARKET INTEGRITY NOTICE

NOTICE OF WITHDRAWAL

DEFINITION OF "APPLICABLE MARKET DISPLAY"

Summary

This Market Integrity Notice provides notice that Market Regulation Services Inc. has withdrawn from consideration for approval by the applicable securities regulatory authorities a proposed amendment to the Universal Market Integrity Rules to replace the definition of "consolidated market display" with a definition of "applicable market display" as originally published in Market Integrity Notice 2005-018 -- Request for Comments -- Definition of "Applicable Market Display" (June 10, 2005). This proposed amendment was withdrawn on the publication of a revised series of proposed amendments in Market Integrity Notice 2006-019 -- Request for Comments -- Provisions Respecting Competitive Marketplaces (October 6, 2006).

Questions / Further Information

For further information or questions concerning this notice contact:

James E. Twiss

Chief Policy Counsel

Telephone: 416.646.7277

Fax: 416.646.7265

e-mail: [email protected]

DEFINITION OF "APPLICABLE MARKET DISPLAY"

Summary

This Market Integrity Notice provides notice that Market Regulation Services Inc. ("RS") has withdrawn from consideration for approval by the applicable securities regulatory authorities ("Recognizing Regulators") a proposed amendment to the Universal Market Integrity Rules ("UMIR") to replace the definition of "consolidated market display" with a definition of "applicable market display" as originally published in Market Integrity Notice 2005-018 -- Request for Comments -- Definition of "Applicable Market Display" (June 10, 2005). This proposed amendment was withdrawn on the publication of a revised series of proposed amendments in Market Integrity Notice 2006-019 -- Request for Comments -- Provisions Respecting Competitive Marketplaces (October 6, 2006).

Provisions Respecting Competitive Marketplaces

On September 29, 2006, the Board of Directors of RS approved for publication proposed amendments to UMIR to accommodate the introduction of multiple marketplaces (the "Competitive Marketplaces Proposals"). The Competitive Marketplaces Proposals were published in Market Integrity Notice 2006-019 -- Request for Comments -- Provisions Respecting Competitive Marketplaces (October 6, 2006). The Competitive Marketplaces Proposals incorporate revisions to various amendment proposals originally published in:

• Market Integrity Notice 2005-012 -- Request for Comments -- Provisions Respecting "Off-Marketplace" Trades (April 29, 2005);

• Market Integrity Notice 2005-018 -- Request for Comments -- Definition of "Applicable Market Display" (June 10, 2005); and

• Market Integrity Notice 2005-019 -- Request for Comments -- Provisions to Accommodate the Introduction of Multiple Marketplaces (June 10, 2005).

The Competitive Marketplaces Proposals would also incorporate directly into UMIR certain aspects of the guidance provided by RS in Market Integrity Notice 2006-017 -- Guidance -- Securities Trading on Multiple Marketplaces (September 1, 2006).

The period to comment on the Competitive Marketplaces Proposals has been extended until November 13, 2006. Comments on the Competitive Marketplaces Proposals should be in writing and delivered by November 13, 2006 to:

James E. Twiss,

Chief Policy Counsel,

Market Policy and General Counsel's Office,

Market Regulation Services Inc.,

Suite 900,

145 King Street West,

Toronto, Ontario. M5H 1J8

Fax: 416.646.7265

e-mail: [email protected]

A copy should also be provided to Recognizing Regulators by forwarding a copy to:

Cindy Petlock

Manager, Market Regulation

Capital Markets Branch

Ontario Securities Commission

Suite 1903, Box 55,

20 Queen Street West

Toronto, Ontario. M5H 3S8

Fax: (416) 595-8940

e-mail: [email protected]

Commentators should be aware that a copy of their comment letter will be publicly available on the RS website (www.rs.ca under the heading "Market Policy"). A summary of the comments contained in each submission will also included in a future Market Integrity Notice dealing with the revision or the approval of the Competitive Marketplaces Proposals.

Questions / Further Information

For further information or questions concerning this notice contact:

James E. Twiss,

Chief Policy Counsel,

Market Policy and General Counsel's Office,

Market Regulation Services Inc.,

Suite 900,

145 King Street West,

Toronto, Ontario. M5H 1J8

Telephone: 416.646.7277

Fax: 416.646.7265

e-mail: [email protected]

ROSEMARY CHAN,

VICE PRESIDENT, MARKET POLICY AND GENERAL COUNSEL