Application under section 144 of the Securities Act (Ontario) (OSA) to vary the interim order of Chicago Mercantile Exchange Inc. (CME) to extend the deadline for CME to file a full application with respect to the requirement for recognition as a clearing agency under subsection 21.2(0.1) of the OSA.
Applicable Legislative Provisions
Securities Act, R.S.O. 1990, c. S.5, as am., ss. 21.2(0.1) and 144
IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, C. S. 5, AS AMENDED
IN THE MATTER OF
CHICAGO MERCANTILE EXCHANGE INC.
VARIATION TO THE INTERIM ORDER
(Section 144 of the Act)
WHEREAS the Ontario Securities Commission (Commission) issued an interim order dated June 8, 2012 pursuant to section 147 of the Act exempting CME from the requirement to be recognized as a clearing agency under section 21.2(0.1) of the Act (Interim Order);
AND WHEREAS the Interim Order was granted provided that CME shall file with the Commission no later than August 31, 2012, a full application for a subsequent order recognizing CME as a clearing agency under subsection 21.2(0.1) of the Act or exempting CME from the requirement to be recognized as a clearing agency under section 147 of the Act (Subsequent Order), and that if CME does not file a full application for the Subsequent Order by the August 31, 2012 deadline, the Commission may terminate the Interim Order with further notice to CME;
AND WHEREAS CME has filed an application (Application) received on August 29, 2012 with the Commission to vary the Interim Order pursuant to section 144 of the Act to extend the August 31, 2012 deadline to file a full application for the Subsequent Order until September 10, 2012;
AND WHEREAS the Commission has received certain representations from CME in connection with the Application;
AND WHEREAS the Commission has determined that it is not prejudicial to the public interest to vary the Interim Order to extend CME's interim exemption from the requirement to be recognized as a clearing agency pursuant to section 21.2(0.1) of the Act;
IT IS ORDERED, pursuant to section 144 of the Act, that the Interim Order be varied by replacing the reference to "August 31, 2012" in section 7 with a reference to "September 10, 2012."
DATED at Toronto this 31 day of August, 2012.