IIROC announces steps taken in response to market volatility

TORONTO, May 7 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) announced today that it had taken the following steps in response to yesterday's market volatility. Specifically, on May 6th, IIROC re-priced or cancelled trades which occurred between 2:40 pm and 3:10 pm in the following securities:

    
    -   Claymore Canadian Financial Monthly Income ETF (FIE.A): five trades
        were cancelled

    -   Fortis Inc. (FTS): 152 trades were re-priced and two trades were
        cancelled
        Trades below $21.60 were re-priced to $21.60

    -   ISHARES S & P TSX CAPPED REIT INDEX FUND (XRE): 16 trades were
        re-priced and 5 trades were cancelled. Trades below $9.50 were
        re-priced to $9.50

    -   Inter Pipeline Fund (IPL.UN): 50 trades were re-priced
        Trades below $9 were re-priced to $9.00
    

In light of recent market volatility, IIROC will continue to closely monitor all trading on Canadian equity market places.

IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information: For further information: Connie Craddock, Vice-President, Public Affairs, (416) 943-5870 or ccraddock@iiroc.ca


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