Regulatory Alerts2024-02-29
CSA Staff Notice 23-333: Order Protection Rule Market Share Threshold Effective April 1, 2024
The Canadian Securities Administrators issued this notice to update the list of protected and unprotected marketplaces under the Order Protection Rule effective April 1, 2024. The primary change involves adding two new Alpha Exchange Inc. order books, Alpha-X and Alpha DRK, to the list of unprotected venues. Protected status is granted to marketplaces meeting the 2.5% market share threshold or providing automated trading functionality, while unprotected status applies to dark venues and those failing to meet regulatory criteria.
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