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.
Implementation of Amendments Respecting Client Identifiers
Glossary of Terms for Decision Tree and Scenario Chart
Term | Meaning | Source |
---|---|---|
Account type | FIX tag 581 in MRF Specifications
| UMIR 1.1 and FIX MRF Specifications |
Bundled order (BU) | An order that includes a client order as well as a non-client order or principal order, or both. | UMIR 1.1 |
Client order | An order for the purchase or sale of a security received or originated by a Participant for the account of a client of the Participant or a client of an affiliated entity of the Participant, but does not include a principal order or a non-client order. | UMIR 1.1 |
Direct electronic access (DEA) | An arrangement between a Participant that is a member, user or subscriber and a client that permits the client to electronically transmit an order relating to a security containing the identifier of the Participant:
| UMIR 1.1 |
Foreign dealer equivalent (FDE) | A person in the business of trading securities in a foreign jurisdiction in a manner analogous to an investment dealer and that is subject to the regulatory jurisdiction of a signatory to the International Organization of Securities Commissions’ Multilateral Memorandum of Understanding in that foreign jurisdiction. | UMIR 1.1 |
Global Legal Entity Identifier System | The system for unique identification of parties to financial transactions developed by the Legal Entity Identifier System Regulatory Oversight Committee. | Notice 19-0071 – Notice of Approval - Amendments Respecting Client Identifiers (April 18, 2019) |
Identified order execution only client | A client using an order execution only service:
| Notice 19-0071 – Notice of Approval - Amendments Respecting Client Identifiers (April 18, 2019) See also “order execution only” in IDPC Rule 3241 |
CIRO Dealer Member | A Member that is an investment dealer in accordance with securities legislation. “Member” means a person admitted to membership in the Corporation and who has not ceased, resigned or terminated membership in the Corporation in accordance with the provisions of Article 3. | CIRO By-Law No. 1 (PDF) List of CIRO Dealer Members |
CIRO Dealer Member that is not a Participant | A CIRO Dealer Member that is not a member of an Exchange or a subscriber of an ATS in Canada. | See also “CIRO Dealer Member” and “Participant” |
Jitney order | An order entered on a marketplace by a Participant acting for or on behalf of another Participant. | UMIR 1.1 |
Jitney Participant | A Participant that sends a jitney order for execution on a marketplace by another Participant. | See definition of “jitney order” in UMIR 1.1 |
Legal Entity Identifier (LEI) | A unique identification code assigned to a person in accordance with standards set by the Global Legal Entity Identifier System. | Notice 19-0071 – Notice of Approval - Amendments Respecting Client Identifiers (April 18, 2019) |
Listed security | A security listed on an Exchange. An “Exchange” means a person recognized by the applicable securities regulatory authority under securities legislation to carry on business as an exchange. | UMIR 1.1 |
Marketplace | Means:
An “Exchange” means a person recognized by the applicable securities regulatory authority under securities legislation to carry on business as an exchange. A “QTRS” means a recognized quotation and trade reporting system. An “ATS” means an alternative trading system,
| UMIR 1.1, NI 21‑101 and section 1.1 of CIRO By-law No. 1 (PDF) List of marketplaces regulated by CIRO |
Multiple client order (MC) | An order that includes orders from more than one client, but does not include a principal order or a non-client order. | Notice 19-0071 – Notice of Approval - Amendments Respecting Client Identifiers (April 18, 2019) |
Non-client order (NC) | Means an order for the purchase or sale of a security received or originated by a Participant for an account:
| UMIR 1.1 |
Order execution only (OEO) service | The acceptance and execution of orders from customers for trades that the Dealer Member has not recommended and for which the Dealer Member takes no responsibility as to the appropriateness or suitability of orders accepted or account positions held. | Rule 3241 |
Participant (PO) | Means:
| UMIR 1.1 |
Proprietary order or account | An account or order in which the dealer (who may be a foreign dealer equivalent or CIRO Dealer Member) holds a direct or indirect interest other than an interest in the commission charged on a transaction. May also be known as an inventory order or account. Where the dealer is a Participant, the proprietary account means a principal account as defined in UMIR 1.1. | See UMIR 1.1 definitions of a “principal account” and “principal order”. |
Routing Arrangement (RA) | An arrangement under which a Participant that is a member, user or subscriber permits an investment dealer or a foreign dealer equivalent to electronically transmit an order relating to a security containing the identifier of the Participant:
| UMIR 1.1 |
Supervised as a retail client | Client that is supervised by the CIRO Dealer Member according to the standards set under IDPC Rule 3900 – Part C – Supervision of Retail Client Accounts. | IDPC Rule 3900 – Part C – Supervision of Retail Client Accounts |
Supervised as an institutional client | Client that is supervised by the CIRO Dealer Member according to the standards set under IDPC Rule 3900 – Part D – Supervision of Institutional Client Accounts. | IDPC Rule 3900 – Part D – Supervision of Institutional Client Accounts |
Unique identifier for clients of a foreign dealer equivalent that automatically generates an order on a predetermined basis | Alphanumeric code that is unique to the client of the FDE. Does not need to be in the form of an LEI, account number, or client name. | Notice 19-0071 – Notice of Approval - Amendments Respecting Client Identifiers (April 18, 2019) |
Universal Market Integrity Rules (UMIR) | Means those Rules adopted by CIRO and designated by CIRO as the Universal Market Integrity Rules as amended, supplemented and in effect from time to time. | UMIR 1.1 |