Approved Participants

Approved participants list

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Firms asterisked are members of the Canadian Derivatives Clearing Corporation.

C



Canaccord Genuity Corp.* (033)
http://www.canaccord.com
Pacific Centre
609 Granville Street - Suite 2200, P.O. Box 10337
Vancouver British Columbia V7Y 1H2
Telephone: 604 643-7300
Fax: 604 643-7606

1250 René-Lévesque Boulevard West - Suite 2000
Montréal Québec H3B 4W8
Telephone: 514 844-5443
Fax: 514 844-5216


Casgrain & Company Limited (004)
https://www.casgrain.ca
1200 McGill College Avenue
Montreal QC H3B 4G7
Telephone: 514 871-8080
Fax: 514 871-1943


CIBC World Markets Inc. * (079)
http://www.cibcwm.com
Brookfield Place
161 Bay Street - P.O. Box 500
Toronto Ontario M5J 2S8
Telephone: 416 594-7000
Fax: 416 594-7618

600 de Maisonneuve Boulevard West - Suite 3050
Montréal Québec H3A 3J2
Telephone: 514 847-6425
Fax: 514 847-8854


Citadel Securities Canada ULC (005)
https://www.citadelsecurities.com/
100 King Street West - 7th Floor
Toronto ON M5X 1C7
Telephone: 416 306-1169


Citadel Securities LLC (512)
http://www.citadelgroup.com
131 South Dearborn Street
Chicago IL 60603
Telephone: 312 395-2100
Fax: 312 267-7100


Citigroup Global Markets Inc. (518)
http://www.citigroup.com
388 Greenwich St.
New York NY 10013
Telephone: 212 723-4667
Fax: 212 723-8977


Credential Qtrade Securities Inc.* (088)
http://www.credential.com
1111 West Georgia Street - Suite 800
Vancouver BC V6E 4T6
Telephone: 604 714-3800
Fax: 604 714-3901


Credit Suisse Securities (USA) LLC (555)
http://www.credit-suisse.com
Eleven Madison Avenue
New York NY 10010 (US)
Telephone: 212 325-2000
Fax: 212 325-8312


Becoming an approved participant - Benefits

Approved participants have direct access to the Exchange markets and trading environment. The most obvious advantage of becoming an approved participant is significant cost savings in execution. They also have the right to route client orders and install terminals in client offices.

Becoming an approved participant - Requirements

Firms applying to become an approved participant must meet certain criteria including:

  • 1) For Canadian firms:
    • be duly formed under the Canadian provincial or federal applicable laws;
    • be a member of a Canadian self-regulatory organization (Investment Industry Regulatory Organization of Canada);
    • become a member of the Canadian Derivatives Clearing Corporation or conclude a clearing agreement with one of its members.
  • Approved participants' employees applying to obtain an approval entitling them to trade on the Montréal Exchange trading system (SOLA) must beforehand enroll to the training course(s) offered by the Regulatory Division.
  • 2) For foreign firms:
    • be located in one of the following jurisdiction: United States, United Kingdom, Republic of Ireland, Israel, Jersey and France;
    • be duly formed pursuant to the relevant laws of the country;
    • be registered with a securities or derivative instruments regulator, or a recognized self-regulatory organization, unless it is exempted from such registration in its jurisdiction and subject to all other applicable restriction;
    • have entered into a clearing agreement with a member of the Canadian Derivatives Clearing Corporation;
    • have a designated agent for service of process residing in Quebec.

All Approved Participants of the Exchange are required to implement the tool developed by the Exchange for the submission of daily position reports on derivative instruments traded on the Exchange, unless they have specifically been exempted from or have delegated this regulatory procedure. This tool should be implemented at the time of the trading connection in order for it to be fully operational from the beginning of the approved participant's trading activities on the Exchange. Information relevant to this tool and its implementation is available in the LOPR section of this website.

Application for admission – Canadian approved participants

Application for admission – Foreign approved participants

Application for admission – Foreign approved participants – Additional information

Change of corporate status

The Regulatory Division must be informed in writing when certain changes occur regarding an approved participant or foreign approved participant. In most cases, the Regulatory Division must simply be informed prior to such changes, whereas some situations require the prior approval of the Special Committee – Regulatory Division.

Example of situations where a prior notification to the Regulatory Division of the Exchange is sufficient (for further details, please refer to Rule Three of the Rules of the Exchange):

  • Name change
  • Change of control
  • Taking of a major position in the capital of an approved participant (10% or more)
  • Corporate reorganization
  • Merger/acquisition

Situations requiring a prior approval by the Special Committee – Regulatory Division:

  • Resignation of an approved participant
  • Taking of a major position resulting in a change of control of an approved participant, which is likely to materially affect its operations

Approved participants must also inform the Exchange as quickly as possible of any change regarding the address of their head office, phone and fax numbers and Web site address.