Part 7 - Trading in a Marketplace
7.14 Position limits for listed derivatives
- No Participant, acting as principal or agent, shall enter an order to transact in a listed derivative if the Participant has reason to believe that as a result of the transaction the Participant or its client would, acting alone or in concert with others, directly or indirectly, hold or control a position in excess of the position limits established by an Exchange.
- Notwithstanding subsection (1), the Market Regulator may modify the position limits established by an Exchange if it believes that it is necessary to maintain a fair and orderly market.
Defined Terms:
NI 21-101 section 1.1 – “order”
UMIR section 1.1 – “derivative”, “Exchange”, “listed derivative”, ”Market Regulator”, “Participant”
There are no related bulletins available for this Rule.
Regulatory History:
Effective December 14, 2022, the applicable securities commissions approved amendments to add requirements for position limits for listed derivatives under UMIR 7.14. See IIROC Notice 22-0140 – “Amendments Respecting the Trading of Derivatives on a Marketplace” (September 15, 2022).
There is no history log for this rule.