Regulatory Alerts2023-02-23
CSA Staff Notice 23-330: Order Protection Rule Market Share Threshold Effective April 1, 2023
The Canadian Securities Administrators issued this notice to update the list of protected and unprotected marketplaces under the Order Protection Rule effective April 1, 2023. The primary change is the addition of the Canadian Securities Exchange second book (CSE2) to the list of unprotected marketplaces because it does not meet the 2.5% market share threshold. The document provides detailed tables classifying specific venues as protected or unprotected based on automated trading functionality, order display, and market share compliance.
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