Proposed Amendments Respecting Contingent Derivative Orders

The Canadian Investment Regulatory Organization (CIRO) is proposing to amend the Universal Market Integrity Rules (UMIR) to:

• facilitate the execution of an order for a listed security or quoted security that is contingent on the execution of one or more trades in a listed derivative that is also a related derivative (Proposed Amendments).

The Proposed Amendments would:

• add a definition of a “Contingent Derivative Order” in UMIR 1.1,
• add a designation for a “Contingent Derivative Order” in UMIR 6.2, and
• amend various definitions and provisions of UMIR to reflect the introduction of a “Contingent Derivative Order”.