FAQ about order protection rule published

Posted on June 25, 2010

The CSA today published CSA Staff Notice 23-309 - Frequently Asked Questions about the Order Protection Rule and Intentionally Locked or Crossed Markets - Part 6 of National Instrument 23-101 and Related Companion Policy. The FAQ generally deals with key issues and questions respecting compliance with order protection rule requirements, systems issues requirements and the prohibition against intentionally locking or crossing markets.

Effective February 1, 2011, the order protection rule requires marketplaces and marketplace participants that send directed-action orders to establish, maintain and ensure compliance with written policies and procedures that are reasonably designed to prevent trade-throughs. The prohibition under Part 6 of National Instrument 23-101 Trading Rules from intentionally locking or crossing markets is currently in force.

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