IIROC implements short sale changes

By Staff | October 15, 2012 | Last updated on October 15, 2012
1 min read

Goodbye tick test.

New trading rules that went live today amend IIROC’s rules governing short sales and failed trades repeal the longstanding determination for a short sale.

Read: New rules for short sales

They also:

  • Impose pre-borrow requirements for short sales made in certain circumstances; and
  • Require a sell order from a short position to continue to be marked “short sale” but introduce a “short-marking exempt” designation to be used with an order for the purchase or sale of a security by certain accounts that adopt a “directionally neutral” strategy in the trading of securities.

Read: Shorting bans don’t work

Additional amendments relating to dark liquidity pools also went live today.

Read: CSA, IIROC to regulate dark orders

Advisor.ca staff


The staff of Advisor.ca have been covering news for financial advisors since 1998.