The Board is comprised of 15 directors including the President and CEO, with an even number of independent and non-independent Directors. 

• Five individuals representing Dealer Members;
• Two individuals representing the Marketplace Members;
• Seven independent Directors; and
• The President and CEO.

TSX is entitled to nominate one of the Marketplace Directors as long as (a) he/she comes from a Regulated Market and (b) this Marketplace and Marketplaces associated or affiliated with it maintain collectively not less than 40 per cent market share (as determined under the By-law).  The other Marketplace Director will be a representative of a Marketplace other than one affiliated with TSX.

Directors serve for staggered two-year terms.  All directors other than the President are restricted to term limits of four consecutive terms.

Board of Directors’ Charter
Code of Conduct for Directors

Members of IIROC’s Board of Directors are: