Application for Interim Exemption from Recognition as an Exchange and from the Marketplace Rules – Notice of Commission Order - 360 Trading Networks UK Limited
On December 22, 2023, the Commission issued an interim order (the Order) exempting 360 TRADING NETWORKS UK LIMITED (the Applicant) from:
- the requirement to be recognized as an exchange under subsection 21(1) of the Securities Act (Ontario) (the Act) pursuant to section 147 of the Act; and
- the requirements in National Instrument 21-101 Marketplace Operation (NI 21-101) pursuant to section 15.1 of NI 21-101, the requirements of National Instrument 23-101 Trading Rules (NI 23-101) pursuant to section 12.1 of NI 23-101, and the requirements of National Instrument 23-103 Electronic Trading and Direct Electronic Access to Marketplaces (NI 23-103) pursuant to section 10 of NI 23-103.
The Order expires on the earlier of (i) June 30, 2024 and (ii) the effective date of a subsequent order.
A copy of the Order is published in Chapter B.2 of the OSC Bulletin published on January 4, 2024.
The Order is consistent with Staff Notice 21-702 – Regulatory Approach for Foreign-Based Stock Exchanges and the updated exemption criteria included at Appendix 1 to Schedule A of the Order.