OSC seeks participants for analysis of electronic trading risks

The Ontario Securities Commission today announced that its staff have retained a consultant to analyze tools and controls with respect to electronic trading in Canada. Part of the consultant's work will include gathering information from market participants regarding the risks posed by electronic trading and the provision of direct electronic access (DEA). The notice also specifically asks interested participants to contact the OSC.

As we discussed last month, the CSA recently introduced proposed amendments to NI 23-103 Electronic Trading to impose requirements on participant dealers that provide direct electronic access and address the fact that the instrument, which comes into effect on March 1, 2013, does not currently include requirements regarding the provision of DEA.

According to the OSC, the analysis to be performed by the consultant will not impact the timelines for the proposed amendments to NI 23-103. For more information, see OSC Staff Notice 23-701.

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