11.9 Non-Application of UMIR

    UMIR does not apply to:

    1. any order entered and executed on a marketplace provided the order has been entered and executed in compliance with the Marketplace Rules of that marketplace as adopted in accordance with Part 7 of the Trading Rules; and
    2. any order entered and executed on a marketplace or otherwise provided the order has been entered and executed in compliance with:
      1. the rules of an applicable regulation services provider as adopted in accordance with Part 8, 9 or 10 of the Trading Rules, or
      2. the terms of an exemption from the application of Part 8, 9 or 10 of the Trading Rules.

    Defined Terms:

    NI 21-101 section 1.1 – “order” and “regulation services provider”

    UMIR section 1.1 – “marketplace”, “Marketplace Rules”, “Trading Rules” and “UMIR”
    There are no related Guidance/Notice documents available for this Rule.

    Regulatory History:

    In connection with the recognition of IIROC and its adoption of UMIR, the applicable securities commissions approved amendments Rule 11.9 that came into force on June 1, 2008 to replace the word “Rules” in the title with “UMIR” and to replace the phrase “These Rules do” with “UMIR does”. See Footnote 1 in Status of Amendments

    Effective December 9, 2013, the applicable securities commissions approved amendments to the French version of UMIR. See IIROC Notice 13‑0294 – Notice of Approval and Implementation – “Amendments to the French version of UMIR” (December 9, 2013).

    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