Canadian Securities Regulators Announce that TSX Inc. will Act as an Information Processor for Exchange-Traded Securities

CSA Securities

Toronto – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 21-309 Information Processor for Exchange-Traded Securities other than Options. The notice informs the public that TSX Inc. (TSX) will act as an information processor for exchange-traded securities other than options, commencing July 1, 2009 for a period of five years.

“ In today’s multiple marketplace environment, data consolidation is important for both marketplace participants and investors. An information processor would ensure that they have access to information from all of the marketplaces,” said Jean St-Gelais, CSA Chair and President, Autorité des marchés financiers.

In July 2006, the CSA published a notice inviting any interested party to file an application to become an information processor for exchange-traded securities. An information processor provides consolidated data to investors and market participants, facilitating compliance with regulatory requirements. The Bourse de Montréal Inc. (MX), CDS Inc. (CDS), and TSX submitted applications. Since the initial filing, the MX and CDS withdrew their applications. Over the course of the application process, the TSX also revised its proposal. The CSA is of the view that the revised TSX proposal meets all of the criteria set out in the 2006 notice. The information processor is designated as a market participant under the Securities Act (Ontario) and has been recognized as an information processor under the Securities Act (Québec).

During the review process, the CSA evaluated the applications to assess the applicants’ ability to meet the requirements of National Instrument 21-101 Marketplace Operation including requirements related to: the applicant’s systems and performance capabilities; standards and procedures for the collection, processing, distribution and publication of data; marketplace access to the information processor on fair and reasonable terms; sufficiency of financial resources; qualification of personnel; and existence of other information processors. The CSA also considered the applicants’ governance, processes to manage inherent conflicts of interest, fee structure and the fairness of their revenue allocation methods.

CSA Staff Notice 21-309 is available on the websites of the various CSA members. For more information, please refer to the attached backgrounder.

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

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For more information:

CSA member name

Point of contact

Phone number

Autorité des marchés financiers

Sylvain Théberge

514 940-2176

Alberta Securities Commission

Mark Dickey

403 297-4481

British Columbia Securities Commission

Ken Gracey

604 899-6577

Financial Services Regulation Division, Newfoundland and Labrador

Doug Connolly

709 729-2594

Manitoba Securities Commission

Ainsley Cunningham

204 945-4733

New Brunswick Securities Commission

Wendy Connors-Beckett

506 643-7745

Nova Scotia Securities Commission

Natalie MacLellan

902 424-8586

Office of the Attorney General, Prince Edward Island

Marc Gallant

902 368-4552

Ontario Securities Commission

Carolyn Shaw-Rimmington

416 593-2361

Saskatchewan Financial Services Commission

Barbara Shourounis

306 787-5842

Securities Office, Northwest Territories

Donn MacDougall

867 920-8984

Securities Office, Nunavut

Louis Arki

867 975-6587

Securities Registry, Yukon

Fred Pretorius

867 667-5225