LedgerEdge Ltd. – s. 8.1 of OSC Rule 13-502 Fees

Headnote

Application under section 8.1 of Ontario Securities Commission Rule 13-502 Fees exempting LedgerEdge Limited from the requirement to pay an activity fee in connection with an application for an order for the Commission to revoke its order, dated June 22, 2022.

Statutes and Instruments Cited

Securities Act, R.S.O. 1990, c. S.5, s. 144.

Ontario Securities Commission Rule 13-502 Fees, s. 8.1.

National Instrument 21-101 Marketplace Operation, s. 15.1.

National Instrument 23-101 Trading Rules, s. 12.1.

National Instrument 23-103 Electronic Trading and Direct Access to Marketplaces, s. 10.

IN THE MATTER OF 
THE SECURITIES LEGISLATION OF THE PROVINCE OF ONTARIO

AND 

IN THE MATTER OF
 LEDGEREDGE LTD.

ORDER
(Section 8.1 of Ontario Securities Commission Rule 13-502 Fees)

UPON the application (the Fee Exemption Application) by the OSC staff (the Applicant) to the Director for an order pursuant to section 8.1 of Ontario Securities Commission Rule 13-502 Fees (OSC Rule 13-502) exempting LedgerEdge from the requirement to pay an activity fee of $4,800 in connection with an application for an order pursuant to section 144 of the Securities Act, RSO 1990, Chapter S.5 as Amended (the OSA) for the Commission to revoke its order, dated June 22, 2022, pursuant to Section 15.1 of National Instrument 21-101 --- Marketplace Operation (NI 21-101), Section 12.1 of National Instrument 23-101 --- Trading Rules (NI 23-101) and Section 10 of National Instrument 23-103 --- Electronic Trading and Direct Access to Marketplaces (NI 23-103) (together, the Marketplace Rules) exempting LedgerEdge from the application of all provisions of the Marketplace Rules that apply to a person or company carrying on business as an alternative trading system (ATS) (the 2022 Order).

AND UPON considering the Fee Exemption Application and the recommendation of staff of the Commission;

AND WHEREAS LedgerEdge notified the Commission that on or about July 31, 2023 LedgerEdge was placed into administration and is no longer in business;

AND WHEREAS there is currently no trading activity on the LedgerEdge platform and LedgerEdge has ceased carrying on business as an ATS in Ontario;

AND WHEREAS LedgerEdge has no physical presence in Ontario and does not otherwise carry on business in Ontario;

AND WHEREAS the Commission has determined that revocation of the 2022 Order would not be prejudicial to the public interest;

IT IS ORDERED by the Director, pursuant to section 8.1 of OSC Rule 13-502, that the Applicant is exempted from paying an activity fee of $4,800 in connection with the 2024 Order Revocation Application.

DATED this 26th day of February, 2024

"Susan Greenglass"
Director, Market Regulation
Ontario Securities Commission