Liquidnet Canada Inc. applied for exemptive relief from the pre-trade transparency requirements in subsection 7.1(1) of National Instrument 21-101 for orders resulting from its manual negotiation system.
The applicant also sought an exemption from the requirement to pay activity fees under OSC Rule 13-502.
The Ontario Securities Commission granted the requested exemptions, finding that the manual negotiation system met the criteria for relief and that it would be unfair to require the payment of fees in these circumstances.
