1. Relevant Background

On July 2, 2021, IIROC published Notice 21-0116 - Notice of Recognizing Regulator Approval of Amendment to IIROC By-Law No. 1 Regarding the Definition of ​“Marketplace”, which revises the meaning of “marketplace” to capture the different definitions of “marketplace” under the securities and derivatives legislation of the various jurisdictions and to align with the application of their marketplace rules to different types of instruments (securities and derivatives). These changes were also approved by the IIROC Board and by a special resolution of IIROC’s Members.

2. Summary of Amendments

The current definition of “marketplace” in UMIR is aligned with the one found in the By-law. As the amendments to the definition of “marketplace” in the By-law were approved by the IIROC Board, CSA and by a special resolution of IIROC’s Members, we needed to make consequential changes to UMIR to ensure consistency with the By-law. 

3. Classification as “Housekeeping Rules”

We classified the Amendments as “housekeeping” because these are consequential changes that reflect corresponding amendments to the By-law, as approved by the IIROC Board, CSA and a special resolution of IIROC’s Members.

4. Implementation

The Amendments to UMIR will become effective immediately.

5. Appendices

Appendix A – Blackline comparison of the Amendments to UMIR

Appendix B – Clean copy of the Amendments to UMIR