Securities Law

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Rescinded Date: 2012-07-13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:

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.