Alert:
A nationwide postal strike or lockout may occur as early as November 3, 2004. Dealer Members must take steps to ensure that document delivery requirements prescribed under CIRO Rules continue to be met.
This Guidance Note sets out the process to calculate and file short position reports in compliance with UMIR Rule 10.10 (Guidance)1 .
This Guidance repeals and replaces Market Integrity Notice 2007-022 – Short Position Calculation and Reporting (October 29, 2007) (Previous Guidance)2 . This Guidance also repeals item 4 and question 11 in IIROC Notice 14-0186 – Requirements for Secure Electronic Regulatory Communication (July 24,2014).
This Guidance differs from the Previous Guidance in that:
Participants and Access Persons are required to calculate and file a report of the short positions in each listed and quoted security as of the 15th day and the last day of each month in a form as required by IIROC (Short Position Report). An Access Person is not required to file a report if the short position is in an account maintained by a Participant.
Participants and Access Persons must file a short position report with IIROC within two trading days following the date on which the calculation is to be made.
Participants and Access Persons were required under Previous Guidance to file Short Position Reports with each listing Exchange. IIROC will now be the sole facility to receive Short Position Reports. We expect that the filing of one consolidated report with IIROC will be more efficient for Participants and Access Persons.
IIROC intends to publish a Consolidated Short Position Report (CSPR) on our website as of the 15th day and as of the last day of each calendar month. The CSPR will display:
This Guidance becomes effective when the new reporting facility is launched. We anticipate the new reporting facility to be launched in Fall 2018.
We will publish a technical notice well in advance of the launch date to provide: