23-101 - Trading Rules [NI Amendment - Lapsed]
| Published Date: | 2008-09-12 |
|---|---|
| Effective Date: | 2008-09-12 |
| Document(s): |
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Concurrently Published:
- 23-101CP - Trading Rules [CP Amendment - Lapsed]
- BCN 2008/42 - Adoption of Amendments to National Instrument 21-101 Marketplace Operation and National Instrument 23-101 Trading Rules [BCN - Lapsed]
PART 1 AMENDMENT
1.1 Amendment
(1) This Instrument amends National Instrument 23-101 Trading Rules.
(2) Section 1.1 is amended by adding the following definition:
""best execution" means the most advantageous execution terms reasonably available under the circumstances;".
(3) Section 4.2 is repealed and the following is substituted:
"4.2 Best Execution - A dealer and an adviser must make reasonable efforts to achieve best execution when acting for a client.
4.3 Order and Trade Information - To satisfy the requirements in section 4.2, a dealer or adviser shall make reasonable efforts to use facilities providing information regarding orders and trades.".
(4) Section 5.1 is amended by adding "for a regulatory purpose" after "trading in a particular security".
(5) Part 11 is amended by:
(a) repealing subsections 11.2(5) and (6); and
(b) adding the following after section 11.2:
"11.3 Transmission in Electronic Form - A dealer and inter-dealer bond broker shall transmit
(a) to a regulation services provider the information required by the regulation services provider, within ten business days, in electronic form; and
(b) to the securities regulatory authority the information required by the securities regulatory authority under securities legislation, within ten business days, in electronic form.".
1.2 Effective Date - This Instrument comes into effect on September 12, 2008.