Regulatory Alerts2020-02-13
CSA Staff Notice 23-326 Order Protection Rule Market Share Threshold for April 1, 2020 to March 31, 2021
The Canadian Securities Administrators issued this notice to publish the updated list of protected and unprotected marketplaces for the Order Protection Rule covering the period from April 1, 2020, to March 31, 2021. The document specifies that marketplaces are classified based on whether they provide automated trading functionality and meet the 2.5% market share threshold, with no changes made to the list compared to the previous year. It details that orders on dark marketplaces and those with intentional processing delays are unprotected, while exchanges like TSX and CSE remain protected as they meet the required thresholds.
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