Earlier this week, the Investment Industry Regulatory Organization of Canada(IIROC) released proposed guidance intended to consolidate previously-issued guidance respecting marketplace and average price trade disclosure on trade confirmations. The proposed guidance also seeks to clarify acceptable average price disclosure language for use on trade confirmations.

Comments on IIROC's proposal is being accepted until November 8, 2013. For more information, see IIROC Notice 13-0241.