Parallel orders have been issued in Quebec, British Columbia and Alberta to provide temporary relief from the requirement in NI 23-103 Electronic Trading that a marketplace participant's risk management and supervisory controls, policies and procedures be reasonably designed to systematically limit the financial exposure of the marketplace participant.
Amid concerns that marketplace participants may not be able to adequately complete testing of the automated pre-trade risk controls before the instrument takes effect on March 1, 2013, the parallel orders will apply if a marketplace participant is testing automated pre-trade risk controls by March 1, 2013. The relief applies until May 31, 2013. For more information, see Multilateral CSA Staff Notice 23-313.
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