As we noted in an earlier post, amendments to National Instrument 21-101 Marketplace Operation (NI 21-101) and National Instrument 23-101 Trading Rules (NI 23-101) came into force on October 1, 2015. The amendments relate to a variety of matters relating to marketplace operation and trading, including business continuity planning and the information technology systems of marketplaces.
On a related note, the Ontario Securities Commission recently approved changes to the protocols for the review and approval of exchange rules. Changes are also made to the protocols for the review of the information contained in Form 21-101F1 Information Statement Exchange or Quotation and Trade Reporting System and Form 21-101F2 Information Statement Alternative Trading System and the exhibits thereto. The changes set out certain requirements for the launch of new marketplaces and the implementation of changes to the systems of existing marketplaces. Changes were also made to ensure consistency with the amendments to NI 21-101 and NI 23-101. For further information on the protocols and the changes made thereto, please consult Processes for the Review and Approval of Exchange Rules and of the Information Contained in Forms 21-101F1 and 21-101F2.
Finally, OSC Staff Notice 21-706 Marketplaces’ Initial Operations and Material System Changes was updated to reflect the developments noted above.