BCN 2009/31 - Advance notice of amendments to National Instruments 21-101 Marketplace Operation and 23-101 Trading Rules, and their companion policies [BCN - Lapsed]
| Published Date: | 2009-11-13 |
|---|---|
| Rescinded Date: | 2012-07-13 |
| Related Document(s): |
Concurrently Published:
- 21-101 - Marketplace Operation [NI Advance Notice - Lapsed]
- 21-101 - Marketplace Operation [NI Blackline Advance Notice - Lapsed]
- 21-101CP - Marketplace Operation [CP Advance Notice - Lapsed]
- 21-101CP - Marketplace Operation [CP Blackline Advance Notice - Lapsed]
- 23-101 - Trading Rules [NI Advance Notice - Lapsed]
- 23-101 - Trading Rules [NI Blackline Advance Notice - Lapsed]
- 23-101CP - Trading Rules [CP Advance Notice - Lapsed]
- 23-101CP - Trading Rules [CP Blackline Advance Notice - Lapsed]
In the attached advance notice, the Canadian Securities Administrators announce that they expect to implement amendments to National Instruments 21-101 Marketplace Operation and 23-101 Trading Rules, and their related companion policies, subject to ministerial consent.
The amendments require that all visible, immediately accessible, better-priced limit orders be filled before limit orders at inferior prices, regardless of the marketplace where the order is entered. These order-protection amendments will be effective February 1, 2011. Other amendments will be effective January 28, 2010, including a prohibition on intentionally locking or crossing markets.
November 10, 2009
Brenda M. Leong
Chair
Ref: National Instrument 21-101 Marketplace Operation
Companion Policy 21-101CP Marketplace Operation
National Instrument 23-101 Trading Rules
Companion Policy 23-101CP Trading Rules
This Notice may refer to other documents. These documents can be found at the B.C. Securities Commission public website at www.bcsc.bc.ca in the section Securities Law & Policy: Policies & Instruments.