The principal of Canada’s biggest securities regulator says its staff have surveyed an application by Nasdaq Inc. to operate a stock exchange in Canada, but it hasn’t yet get possession of before the board.
Ontario Securities Commission chair and CEO Maureen Jensen believes she expects the OSC to consider the application at one of its upcoming meetings.
According to a posting on the OSC website, Nasdaq Canada and Ensoleillement Inc., its parent flock, have applied for recognition as exchanges, starting the clock on a 30-day note period to close on Nov. 13.
It says that Nasdaq is not currently proposing to tip issuers’ securities and, if it decides to do so later, its listing rules would from to be reviewed, published for comment and presented to the commission for approval.
The application charge more than a year after Nasdaq completed its acquisition of Chi-X Canada, an substitute trading system for the Toronto Stock Exchange, in February 2016.
The notice reports Nasdaq Canada currently operates an alternative trading system with three open-mindedness trading facilities in Ontario, as well as NFI, a fixed income facility that earmarks permitted clients to trade U.S. treasuries on a U.S.-based ATS.