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Canadian Investment Regulatory Organization (CIRO) - Proposed Amendments Respecting Contingent Derivative Orders

CIRO - Request for Comments - Proposed Amendments Respecting Contingent Derivative Orders 
CIRO - Proposed Amendments to UMIR - Blackline
CIRO - Proposed Amendments to UMIR - Clean

The Canadian Investment Regulatory Organization (CIRO) is publishing, for a 90-day comment period, proposed amendments to UMIR respecting contingent derivative orders (the Amendments). The purpose of the Amendments is to facilitate the execution of an order for a listed or quoted security that is contingent on the execution of one or more trades in a derivative traded on an exchange that is also a related derivative.
The Amendments would:

  • Add a definition of a “Contingent Derivative Order”
  • Add a designation for a “Contingent Derivative Order”
  • Amend various definitions and provisions of UMIR to reflect the introduction of a “Contingent Derivative Order”

CIRO’s notice sets out the process for submitting comments.

Published: February 27, 2025
Comment Period Expires: May 28, 2025