Regulatory Alerts2021-02-25
CSA Staff Notice 23-328: Order Protection Rule Market Share Threshold for April 1, 2021 to March 31, 2022
The Canadian Securities Administrators issued this notice to update the list of protected and unprotected marketplaces under the Order Protection Rule for the period April 1, 2021 to March 31, 2022. The document specifies that marketplaces must meet a 2.5% market share threshold or provide automated trading functionality to have their orders protected against trade-throughs. The CSA confirms that the current classification of protected venues, such as TSX and NEO-L, and unprotected venues, such as Lynx and dark pools, remains unchanged from the previous year.
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