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
(the Rule)

AND

IN THE MATTER OF
iShares S&P U.S. Mid-Cap Index ETF (“XMC”)
iShares S&P U.S. Mid-Cap Index ETF (CAD-Hedged) (“XMH”)
(individually, the Fund and collectively, the Funds)


DESIGNATION ORDER
Section 1.1



WHEREAS the Funds are or will be listed on the Toronto Stock Exchange;

AND WHEREAS under the Universal Market Integrity Rules (UMIR), each of the Funds 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 each of the Funds 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 each of the Funds as an exchange-traded fund for the purposes of the Rule.

 

Dated, August 5, 2015

"Tracey Stern"
Manager, Market Regulation.