The Ontario Securities Commission last week released a staff notice setting out the process for OSC Staff's review of the initial filings of entities applying to become recognized exchanges or alternative trading systems. The notice updates and replaces OSC Staff Notice 21-703, which was published in 2010. The notice also describes OSC Staff's expectations regarding the timing of a marketplace's commencement of operations and of the implementation of material system changes. Specific processes for the review of the information contained in Forms 21-101F1 and 21-101F2 were also published.

For more information, see OSC Staff Notice 21-706.