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Rule Text
- Each Participant shall file with the Market Regulator a daily listed derivatives position report of all positions required to be reported as established by an Exchange.
- Notwithstanding subsection (1), the Market Regulator may modify the reporting limits established by an Exchange and prescribe the information and form that is required to be reported if it believes that it is necessary to maintain fair and orderly market.
Defined Terms:
UMIR section 1.1 – “derivative”, “Exchange”, “listed derivative”, ”Market Regulator”, “Participant”
History
Regulatory History:
Effective December 14, 2022, the applicable securities commissions approved amendments to add requirements for reporting limits for listed derivatives under UMIR 10.19 See IIROC Notice 22-0140 - “Amendments Respecting the Trading of Derivatives on a Marketplace” (September 15, 2022).
Rule Text
- No Participant, acting as principal or agent, shall enter an order to transact in a listed derivative if the Participant has reason to believe that as a result of the transaction the Participant or its client would, acting alone or in concert with others, directly or indirectly, hold or control a position in excess of the position limits established by an Exchange.
- Notwithstanding subsection (1), the Market Regulator may modify the position limits established by an Exchange if it believes that it is necessary to maintain a fair and orderly market.
Defined Terms:
NI 21-101 section 1.1 – “order”
UMIR section 1.1 – “derivative”, “Exchange”, “listed derivative”, ”Market Regulator”, “Participant”
History
Regulatory History:
Effective December 14, 2022, the applicable securities commissions approved amendments to add requirements for position limits for listed derivatives under UMIR 7.14. See IIROC Notice 22-0140 – “Amendments Respecting the Trading of Derivatives on a Marketplace” (September 15, 2022).
Joint CSA/IIROC Staff Notice 23 – 329 – Short Selling in Canada
The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC and, together with the CSA, we) are publishing Joint Canadian Securities Administrators and Investment Industry Regulatory Organization of Canada Staff Notice 23-329 Short Selling in Canada (Notice) to provide an overview of the existing regulatory landscape surrounding short selling, give an update on current related initiatives and request public feedback on areas for regulatory consideration.
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