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IIAC’s Response to Proposed Guidance on Marketplace Thresholds (IIAC Blog)

IIAC’s Response to Proposed Guidance on Marketplace Thresholds (IIAC Blog)

The IIAC has submitted comments to the Investment Industry Regulatory Organization of Canada (IIROC) on the proposed guidance requiring Canadian exchanges and alternative trading systems to establish specific price thresholds that, when breached, would trigger a halt in trading in the event a particular stock experiences rapid and unexplained price movement over a short period of time.

The IIAC generally supports the principles of the guidance, but voiced significant concern with the requirement that dealers tailor their individual order flow so as to avoid exceeding the marketplace threshold for a particular security.

In our view, … Continue reading

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