Approved Persons

Approval as an Approved Person – Conditions of Eligibility and Regulatory Requirements

All requests related to Approved Persons (Approval, Termination, Transfer and Status Change) must be submitted through the Participant Portal. Administrator access is provided to all Approved Participants of the Bourse. The Portal administrator of each Approved Participant is responsible for granting access to the various modules of the Portal to the employees of their firm.

Approved Participants' employees must be approved as Approved Persons by the Regulatory Division of the Bourse before being granted access to the Bourse's trading system. Note that individuals granted sole access by Approved Participants to functionalities designed to cancel orders for risk management purposes are not required to be Approved Persons. Pursuant to subparagraph 3.100(b)(i) of the Rules and Regulation 23-103 respecting Electronic Trading and Direct Electronic Access to Marketplaces, such functionalities must be documented as part of the Approved Participant's risk management and supervisory controls, policies and procedures.

An Approved Participant may also request the approval of an employee of one of its affiliated corporations or subsidiaries. One should note that a person employed by an Approved Participant's affiliated corporation or a subsidiary is not required to become an Approved Person unless such person wishes to arrange block transactions and riskless basis cross transactions. The employee of an affiliated corporation or subsidiary of an Approved Participant approved as an Approved Person would also be allowed to handle trade requests originating from the Approved Participant and the Approved Participant's clients.

All applications and supporting documentation and information must be submitted through the Participant Portal. The application will be deemed to have been abandoned and will be cancelled by the Bourse if the applicant does not provide all the information and documents required by the Bourse within six (6) months after submitting the application.

Applicants are required to complete the training course(s) and successfully pass the examination(s) related to the relevant Bourse product(s). The Participant Portal administrator is responsible for providing access to the training platform and should consult the "Portal Administration" video and the Training Platform Guide.

For further information, please see the guidelines on the approval process of Approved Persons.

Transfer of an Approved Person

The Regulatory Division must be notified when an Approved Person becomes a new employee of another Approved Participant within 90 days of being transferred. To be valid, this transfer request must be preceded by a notice of termination of employment from the previous employer.

Any other document deemed relevant by the Regulatory Division, must be submitted to the Regulatory Division for approval through the Participant Portal. There are no fees associated with transfer requests.

Status Change of an Approved Person

The Regulatory Division must be notified through the Participant Portal when an Approved Person wishes to add a new product to the list of authorized products.

Submitting the Termination Notice of an Approved Person

When there is termination of employment of an Approved Person, the Approved Participant must notify the Regulatory Division through the Participant Portal within ten (10) business days following the termination date of employment. Failure to inform the Regulatory Division of a termination of employment within the prescribed delay results in late fees.

Requesting an MX Identification Number (MX-Id)

MX-Id requests must be submitted through the Participant Portal. Administrator access is provided to all Approved Participants of the Bourse. The Portal administrator of each Approved Participant is responsible for granting access to the various modules of the Portal to the employees of the firm.