10.17 Gatekeeper Obligations with Respect to Electronic Trading

    1. A Participant that has, under Rule 7.1, authorized an investment dealer to perform on its behalf the setting or adjusting of a specific risk management or supervisory control, policy or procedure or the provision of risk management or supervisory controls, policies and procedures to a third party shall forthwith report to the Market Regulator the fact that:
      1. the written agreement with the investment dealer or third party has been terminated; or
      2. the Participant knows or has reason to believe that the investment dealer or third party has failed to promptly remedy any deficiency identified by the Participant.

    Defined Terms:

    UMIR section 1.1 – “Market Regulator” and “Participant”.

    Related Provisions:

    UMIR sections 7.1(7) – (10) and UMIR Policy 7.1 Part 7.

    There are no related Guidance/Notice documents available for this Rule.

    Regulatory History: On December 7, 2012, the applicable securities commissions approved an amendment, effective March 1, 2013, to add section 10.17.  See IIROC Rules Notice 12-0363 – “Provisions Respecting Electronic Trading” (December 7, 2012).

    There is no history log for this rule.
    Part 1 - Definitions and Interpretation
    Part 2 - Abusive Trading
    Part 3 - Short Selling
    Part 4 - Frontrunning
    Part 5 - Best Execution Obligation
    Part 6 - Order Entry and Exposure
    Part 7 - Trading in a Marketplace
    Part 8 - Principal Trading
    Part 9 - Trading Halts, Delays and Suspensions
    Part 10 - Compliance
    Part 11 - Administration of UMIR