Canada’s biggest securities regulator, the Ontario Securities Commission in the province of Ontario, is looking into stock trading that is being rerouted through U.S. broker-dealers by Canadian banks and other big dealers, according to a report in the Wall Street Journal Tuesday (November 18) by journalists Ben Dummett and Rita Trichur.
The journalists report that the Commission is “Concerned that a growing share of order flow is going to the U.S. at the expense of domestic exchanges, the Ontario Securities Commission is looking at how big Canadian dealers route retail-brokerage orders to different marketplaces.”
Susan Greenglass, the Commission’s director for market regulation, says this examination will help the regulator to determine if rule changes are needed to retain order flow in Canada.
More information:
Wall Street Journal – Canada Regulator Looks into Rerouting of Stock-Trade Orders to U.S. – here
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