Securities Law & Instruments

IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, CHAPTER S. 5, AS AMENDED (THE ACT) AND IN THE MATTER OF TERAEXCHANGE, LLC
REVOCATION OF INTERIM ORDER (Section 144 of the Act)


WHEREAS TeraExchange, LLC (Tera) operates an electronic trading facility for swaps in the United States under the jurisdiction of the Commodity Futures Trading Commission (CFTC) and has obtained temporary registration with the CFTC to operate a swap execution facility;

AND WHEREAS the Ontario Securities Commission (Commission) has, by interim order dated October 1 2013 and varied on September 30, 2014 (Interim Order), exempted Tera from the requirement to be recognized as an exchange pursuant to section 21(1) of the Act;

AND WHEREAS Tera has filed an application dated July 7, 2015 with the Ontario Securities Commission (Commission) requesting revocation of the Interim Order;

AND WHEREAS Tera has represented to the Commission that it does not have any participants in Ontario, and is not carrying on business in Ontario, and therefore does not require the exemptive relief provided by the Interim Order;

AND WHEREAS, based on the application and the representations made by Tera to the Commission, the Commission has determined that the revocation of the Interim Order would not be prejudicial to the public interest;

IT IS HEREBY ORDERED by the Commission, pursuant to section 144 of the Act, that the Interim Order is revoked.

DATED November 6, 2015

"William J. Furlong"
 
"Mary G. Condon"