Market Integrity Rules

The Division is responsible for all rules of the Bourse pertaining to market integrity (the "Market Integrity Rules"), including, but not limited to:

1. rules relating to the establishment, functions, oversight and administrative structure of the Division;
2. standards concerning the integrity, competencies and admission requirements for Approved Participants of the Bourse; and,
3. rules governing the conduct of Approved Participants of the Bourse.

The process for adopting or amending Market Integrity Rules involves three steps.

1. Internal approval

All proposals to adopt or amend Market Integrity Rules must first be submitted to the Advisory Committee on Self-Regulation to obtain its recommendations. Next, the proposal must be submitted to the Self-Regulatory Oversight Committee for examination and approval. When submitting the proposal to the Self-Regulatory Oversight Committee, the Division must indicate how it has addressed the recommendations of the Advisory Committee on Self-Regulation and, if applicable, provide its reasons for not doing so.

2. Request for comments

As soon as the proposal to adopt or amend the Market Integrity Rules is approved by the Self-Regulatory Oversight Committee, the Division publishes the proposal for public consultation for a period of no less than 30 days. The Division also sends the proposal to the Autorité des marchés financiers (AMF), which simultaneously publishes the proposal in its weekly bulletin for public consultation for a period of at least 30 days. Comments on the proposal must be submitted to both the Division and the AMF.

3. Self-certification

The implementation date of the proposal to adopt or amend the Market Integrity Rules is determined by the Division, in accordance with the self-certification process set out in the Derivatives Act (R.S.Q., chapter I-14.01).