CANADA: CSA Publishes Next Steps to Access Real-Time Market Data

Friday April 19 2024

On 18^th April 2024, the Canadian Securities Administrators (CSA) published Staff Notice 21-334 Next Steps to Facilitate Access to Real-Time Market Data (RTMD) which summarizes the comments received to the Consultation Paper published in November 2022, and advises stakeholders of the CSA’s next steps to address the access to and use of RTMD.

Real-time market data provides vital information about equity securities markets and its access is key for market participants, investors, and their advisers to make informed investment, routing, and execution decisions.

After considering all the comments received and conducting its own analysis, the Ontario Securities Commission (OSC) has implemented an enhanced transparency regime for any RTMD fee proposals by requiring marketplaces regulated by it to publish such proposed changes for feedback. The Alberta Securities Commission and British Columbia Securities Commission expect to review whether to pursue a similar approach for the TSX Venture Exchange.

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