Imported from previous forum
The Global Technical Committee has reviewed and preliminarily approved the Canadian Subcommittee IIROC Short Sale Requirement Extension Proposal. This proposal from the Canadian Subcommittee addresses the Canadian market regulator’s, IIROC, amendments to the Universal Market Integrity Rules regarding short sales. The amendments had repeated the tick test, imposed pre-borrow requirements for short sales under certain circumstances, and introduced a new “short-marking exempt” designation to be used with orders to purchase or sell a security from certain accounts that take a “directionally neutral” trading strategy.
The document now enters a public comment period in which public review and feedback is encouraged. Once the public comment period closes, the Global Technical Governance Board will meet to review public comments before final approval.
Please post feedback, comments, and questions as replies to this discussion thread.
A link to the proposal can be found at: http://www.fixprotocol.org/documents/7064/FIX%20Protocol%20Gap%20Analysis%20Proposal%20-%20IIROC%20Short%20Sale%20Amendments%20Rev0.5.docx
The public comment period ends on October 30th, 2012.