Securities Law & Instruments

Headnote

Certain mutual funds designated as exchange-traded funds for the purposes of OSC Rule 48-501.

Rules Cited

Ontario Securities Commission Rule 48-501 Trading During Distributions, Formal Bids and Share Exchange Transactions, s. 1.1.


IN THE MATTER OF
ONTARIO SECURITIES COMMISSION RULE 48-501 – TRADING DURING DISTRIBUTIONS, FORMAL BIDS AND SHARE EXCHANGE
TRANSACTIONS (Rule)

AND

IN THE MATTER OF
iShares Short Term Strategic Fixed Income ETF (“XSI”)

(the Fund)

DESIGNATION ORDER
Section 1.1




WHEREAS the Fund is or will be listed on the Toronto Stock Exchange;

AND WHEREAS under the Universal Market Integrity Rules (UMIR), the Fund is an Exempt Exchange-traded Fund that is not subject to prohibitions related to trading during certain securities transactions;

AND WHEREAS the definition of “exchange-traded fund” in the Rule is substantially similar to the definition of Exempt Exchange-traded Fund in UMIR;

AND WHEREAS the purpose of the Rule and UMIR are substantially similar;

AND WHEREAS the Fund would be subject to prohibitions relating to trading during certain securities transactions under the Rule if it is not designated by the Director;

THE DIRECTOR HEREBY DESIGNATES the Fund as an exchange-traded fund for the purposes of the Rule.

Dated, January 19, 2015

 

"Susan Greenglass"
Director, Market Regulation