About the OSC
Market Regulation
The Market Regulation Branch is responsible for the oversight of marketplaces, self-regulatory organizations (SROs) and clearing agencies.
Marketplaces include stock exchanges, alternative trading systems (ATSs) and quotation and trade reporting systems (QTRSs). TSX Inc. and Canadian Trading and Quotation System Inc. are examples of Ontario-based exchanges recognized by the OSC.
SROs are organizations that regulate the operations and the standards of practice and business conduct of their members and their representatives. The SROs recognized by the OSC include the Investment Industry Regulatory Organization of Canada and the Mutual Fund Dealers Association of Canada.
A clearing agency is an infrastructure organization that provides facilities for buyers and sellers of securities to clear and settle transactions. The Canadian Depository for Securities Limited is recognized by the OSC as a clearing agency.
Branch staff oversee exchanges, quotation and trade reporting systems, SROs and clearing agencies that are recognized by the OSC and ATSs operating in Ontario to assess their compliance with regulatory requirements.
Branch staff also contribute to policy development relating to market structure, the trading of fixed income securities and the regulation of commodity futures contracts trading, including the administration of the Ontario Commodity Futures Act. They also analyze regulatory issues relating to derivatives products.
The capital markets are constantly undergoing changes, including the emergence of multiple marketplaces. Securities regulators, as a result, face the challenge of continually adapting their approaches to address evolving market structures. To help the OSC face this challenge, the Market Regulation Branch strives to identify the important regulatory issues and then deal with them in a timely way.
