Trumid Financial, LLC – s. 15.1 of NI 21-101, s. 12.1 of NI 23-101, s. 10 of NI 23-103, s. 144(1) of the OSA
Subsection 144(1) of the OSA -- Application for an order revoking an order issued June 8, 2020 granting Trumid Financial LLC exemptive relief under s. 15.1 of National Instrument 21-101 Marketplace Operation, s. 12.1 of National Instrument 23-101 Trading Rules, and s. 10 of National Instrument 23-103 Electronic Trading and Direct Access from the Marketplace Rules -- order granted.
IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, CHAPTER S. 5, AS AMENDED (THE OSA) AND IN THE MATTER OF NATIONAL INSTRUMENT 21-101 MARKETPLACE OPERATION (NI 21-101) AND IN THE MATTER OF NATIONAL INSTRUMENT 23-101 TRADING RULES (NI 23-101) AND IN THE MATTER OF NATIONAL INSTRUMENT 23-103 ELECTRONIC TRADING AND DIRECT ACCESS TO MARKETPLACES (NI 23-103) AND IN THE MATTER OF TRUMID FINANCIAL, LLC
ORDER (Section 15.1 of NI 21-101 and section 12.1 of NI 23-101 and section 10 of NI 23-103 and Subsection 144(1) of the OSA)
WHEREAS the Ontario Securities Commission (the "OSC") issued an order dated June 8, 2020 (the "ATS Order") pursuant to Section 15.1 of NI 21-101, section 12.1 of NI 23-101 and section 10 of NI 23-103 (the "Marketplace Rules"), exempting Trumid Financial, LLC ("Trumid") from the requirement to comply with the Marketplace Rules (the "Original Relief in Ontario"), provided that Trumid complies with the terms and conditions set out in Schedule A to the ATS Order;
AND WHEREAS Trumid has filed a coordinated review application ("Coordinated Review Application") with the securities regulatory authority or regulator in each of the provinces and territories of Canada (the "Jurisdictions") for a decision under the securities legislation of the Jurisdictions that would be equivalent to the Original Relief in Ontario, being exemptions in each of the Jurisdictions from NI 21-101 in whole, from NI 23-101 in whole and from NI 23-103 in whole (the "ATS Requested Relief"), in accordance with the guidance set out in National Policy 11-203 Process for Exemptive Relief Applications in Multiple Jurisdictions ("NP 11-203");
AND WHEREAS under NP 11-203 for a coordinated review application the Ontario Securities Commission is the principal regulator for the ATS Requested Relief;
AND WHEREAS Trumid has filed an application pursuant to subsection 144(1) of the OSA to revoke the ATS Order (the "Application");
AND WHEREAS the ATS Requested Relief was granted on February 24, 2021 (the "Coordinated Review Order");
AND WHEREAS Trumid has represented to the Decision Maker that:
1. The terms and conditions set out in the Coordinated Review Order are substantially the same as the terms and conditions imposed on Trumid under the ATS Order;
2. Trumid continues to abide by the terms and conditions of the ATS Order;
AND WHEREAS based on the Application, together with the representations made by, and acknowledgements of, Trumid to the OSC, the OSC has determined that the granting of the Requested Relief would not be prejudicial to the public interest;
The OSC hereby revokes the ATS Order pursuant to section 144 of the OSA.
DATED February 24, 2021