Monday March 4 2013
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: Canada
Link: http://www.iiroc.ca/Documents/2013/0f63ce73-d6b3-4313-8851-55e9d1813817_en.pdf
The Investment Industry Regulatory Organization of Canada (IIROC) has issued a Notice providing guidance on market-wide circuit breakers in Canada, following the adoption of new rules on market-wide circuit breakers in the U.S., to take effect April 8, 2013.
In the U.S., the national securities exchanges and the Financial Industry Regulatory Authority recently received approvals for proposals to revise their existing market-wide circuit breakers. Approximately 60% of the value of securities traded on marketplaces in Canada is in securities which are inter-listed with markets in the U.S.
Having consulted with the industry on alternative approaches for Canada, IIROC has determined that Canada’s market-wide circuit breakers should continue to be harmonized with those in the U.S.
Click on the above link for more details.