Regulatory Alerts2020-08-20
Joint CSA/IIROC Staff Notice 23-327: Update on Internalization within the Canadian Equity Market
The Canadian Securities Administrators and IIROC issued this notice to summarize stakeholder feedback on equity trade internalization and publish updated market data covering January 2016 through October 2019. The regulators observed an increase in unintentional crosses but concluded that current market conditions do not warrant immediate policy changes or amendments to the existing rule framework. Staff will continue to monitor internalization practices and data trends, reserving the right to consider regulatory responses if negative impacts on market quality emerge.
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