Approved Participants

Approved participants list

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Firms asterisked are members of the Canadian Derivatives Clearing Corporation.

R



R.J. O'Brien & Associates Canada Inc. * (185)
http://www.rjobrien.ca
110 Yonge Street - Suite 1700
Toronto ON M5C 1T4
Telephone: 416-214-7900
Fax: 416-214-7949

1250 René Lévesque Blvd West - Suite 4120
Montréal Québec H3B 4W8
Telephone: (514) 218-6888
Fax: (514) 932-7340


R.J. O'Brien Limited (605)
https://www.rjobrien.co.uk/
Business Design Centre
52 Upper Street
London United Kingdom N1 0QH
Telephone: 00 44 20 7390 7777
Fax: 00 44 20 7390 7778


Raymond James Ltd. * (089)
http://www.raymondjames.ca
Cathedral Place
925 West Georgia Street - Suite 2100
Vancouver British Columbia V6C 3L2
Telephone: 604 654-1111
Fax: 604 654-1224

Scotia Plaza
40 King Street West - Suite 5300
Toronto Ontario M5H 3Y2
Telephone: 416 777-4933
Fax: 416 777-4900

1002 Sherbrooke West - Suite 1420
Montréal Quebec H3A 3L6
Telephone: 514 350-4450
Fax: 514 350-4464


RBC Dominion Securities Inc. * (002 - 509)
http://www.rbcds.com
Royal Bank Plaza, North Tower - P.O. Box 50
Toronto Ontario M5J 2W7
Telephone: 416 842-2000
Fax: 416 842-8044

1 Place Ville-Marie - 3rd Floor
Montréal Québec H3B 4R8
Telephone: 514 878-7000
Fax: 514 878-7070


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.