Subscriber Notices
NOTICE: 2023-0331-01
Testing & Implementation of Two Classes of Conditional Order Types and Matching Functionality
March 31, 2023
NOTICE: 2023-0331-01
In preparation for the launch of two classes of ICX Conditional Order types and updated matching functionality on July 5, 2023, the necessary technical changes have been made and ICX is now ready for testing in a UAT environment. If you have any issues or question with respect to testing on ICX UAT, please reply via email to the ICX Operations Team with your query.
For the FIX Specifications associated with the updated ICX Conditional Order types please click the following link: https://www.instinet.com/documents/instinet-canada-cross-icx-equity-trading-solutions
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2021-0401-01
Testing & Implementation of Client Identifiers for Listed Securities
April 1, 2021
NOTICE: 2021-0401-01
IIROC’s Client Identifier requirements for Listed Securities take effect on July 26, 2021. As of this date, Dealer/Members must include client identifiers and/or certain designations on each order in a listed security sent to a marketplace that is regulated by IIROC.
On April 5, 2021, Dealer/Members may start sending orders with the new information to a marketplace on a voluntary basis, to test the functionality before full implementation on July 26. In preparation, ICX has made the necessary technical changes and is now ready for testing in a UAT environment.
If you are interested, and would like to schedule a testing session, please reply via email to the ICX Operations Team with your request and they will be happy to help arrange the time with you.
Here, for your reference, is the latest announcement on the IIROC LEI rule https://www.iiroc.ca/Documents/2021/379640de-be3c-4327-8d30-66504cab67c1_en.pdf
Please let us know if we can assist you with any questions you may have.
Sincerely,
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2021-0305-01
Testing & Implementation of New ICX Conditional Order Type
March 5, 2021
NOTICE: 2021-0305-01
In preparation for the launch of ICX Conditional Orders on March 15th, the necessary technical changes have been made and ICX is now ready for testing in a UAT environment. If you are interested, and would like to schedule a testing session, please reply via email to the ICX Operations Team with your request and they will be happy to help arrange the time with you.
For the Guide to Access ICX Conditional Orders please click the following link: Liquidity-Venues_ICX-Canada-One-Pager_030221.pdf
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2017-0802-02
Settlement Cycle Transition from T+3 to T+2
August 2, 2017
NOTICE: 2017-0802-02
Effective September 5, 2017, the securities settlement cycle in North America will be changing from trade date plus three business days ("T+3") to trade date plus two business days ("T+2").
In Canada, the securities industry transition is being coordinated by the Canadian Capital Markets Association ("CCMA"). For more information, subscribers may refer to the Canadian Securities Administrators' news release dated April 27, 2017 which outlines the regulatory steps being undertaken to support the transition to T+2.
https://www.securities-administrators.ca/aboutcsa.aspx?id=1574&terms=t%202
Since the change will be implemented around the Labour Day weekend, please note the following chart below for a Revised Trade Date & Settlement Dates schedule.
| Trade Date | Settlement Date |
|---|---|
| Wednesday August 30, 2017 Thursday August 31, 2017 Friday September 1, 2017 Monday September 4, 2017 Tuesday September 5, 2017 Wednesday September 6, 2017 Thursday September 7, 2017 | Tuesday September 5, 2017 Wednesday September 6, 2017 Thursday September 7, 2017 Closed - Labour Day Holiday Thursday September 7, 2017 Friday September 8, 2017 Monday September 11, 2017 |
Please note that Thursday September 7, 2017 will be a double settlement date.
If you have any questions, please contact the ICX Operations team.
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2017-0720-01
Implementation of New Order Marker
July 20, 2017
NOTICE: 2017-0720-01
In accordance with IIROC Rules Notice 17-0039 Amendments Respecting Designations and Identifiers, which come into effect on September 14, 2017, the "Bundled" order designation will be made available for optional use on VWAP and CBX orders. ICX has determined that use of the Derivative Related Cross and Bypass order markers are not applicable to the VWAP Cross and CBX order types and therefore, will not be available on ICX.
ICX has completed the technical changes and is now ready for testing in a UAT environment. If you wish to schedule a testing session in the UAT environment, please submit a written request via e-mail to the ICX Operations team.
The Fix Specifications have also been updated to include the BU order marker designation. In particular, FIX Tag 6750, will now include 'BU' as an available option as per below:
"Req'd"= Y = Required/Mandatory N = Optional Y' = Conditionally Required N' = Conditionally Optional
| FIX Tag # | FIX Tag Name | Req'd | FIX Valid Values | Comments |
|---|---|---|---|---|
| 6750 | UMIR Account Type | N | CL NC ST IN OF OT BU | Optional for Canadian regulatory reporting. Note: If unspecified, Default is applied |
For a complete copy of ICX's Fix Specifications, please visit our web site at https://www.instinet.com/documents/instinet-canada-cross-icx-equity-trading-solutionsv0418
If you have any questions, please contact the ICX Operations team.
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2016-0826-01
Implementation of Marketplace Thresholds
August 26, 2016
NOTICE: 2016-0826-01
Instinet Canada Cross (ICX™) will implement marketplace thresholds in compliance with IIROC's Guidance on Marketplace Thresholds.
- The objective of these thresholds is to prevent erroneous orders and limit price volatility
- These thresholds will apply during core trading hours of 9:30am to 4:00pm EST
- IOC orders that fall outside the threshold parameters will be canceled back (resting orders will not be subject to these requirements)
- Thresholds are determined by National Last Sale Price (or adjusted previous close when NLSP unavailable)
| Class of Security | Price Category of Security | Threshold Level |
|---|---|---|
| Securities not subject to SSCBs Leveraged ETFs subject to SSCB ETFs & Leveraged ETFs (not on SSCB list) Securities subject to SSCBs | 0.00 > to < 0.50 0.50 ≥ to < 1.00 1.00 ≥ to < 5.00 5.00 ≥ to < 10.00 10.00 ≥ to < 30.00 30.00 + All prices All prices All prices | 300% 50% 30% 20% 15% 10% 10%* 10% 10% |
* multiplier ratio for leveraged ETFs subject to change based on daily IIROC SSCB security list
- Single Stock Circuit Breakers (SSCB) securities are obtained daily from IIROC here
- Price checks are measured against two reference prices:
- National Last Sale Price (NLSP)
- National Last Sale Price at one minute intervals (One-Minute Reference Price is defined by the most recent minute interval)
- The first trade of each trading day will set the initial NLSP but is not subject to Marketplace Thresholds
(this would include the first trade following a trading halt)
NOTICE: 2016-0406-02
Continuous Block Crossing (CBX) Order Type
April 6, 2016
NOTICE: 2016-0406-02
Effective today ICX begins trading of the new Continuous Block Crossing (CBX) order type.
For additional information on the CBX order type and interfacing with ICX, please visit the ICX web site:
- Market Specifications:
https://www.instinet.com/icxcanada/icx#about_cbx - Fix Specifications:
http://www.icxats.com/docs/ICX_CBX_Fix_Specifications.pdf
Testing of the CBX order type is available in ICX's UAT environment. Please contact the ICX Operations Team for testing information.
If you have any questions or concerns, please contact the ICX Operations Team:
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2016-0401-01
Continuous Block Crossing (CBX) Order Type
April 1, 2016
NOTICE: 2016-0401-01
Subject to regulatory approval, ICX intends to begin trading the new Continuous Block Crossing (CBX) order type on April 6, 2016.
Testing of the CBX order type is available in ICX's UAT environment. Please contact the ICX Operations Team for testing information.
For additional information on the CBX order type and interfacing with ICX, please visit the ICX web site:
- Market Specifications:
https://www.instinet.com/icxcanada/icx#about_cbx
- Fix Specifications:
http://www.icxats.com/docs/ICX_CBX_Fix_Specifications.pdf
Testing of the CBX order type is available in ICX's UAT environment. Please contact the ICX Operations Team for testing information.
If you have any questions or concerns, please contact the ICX Operations Team:
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2015-1222-01
Continuous Block Crossing (CBX) Order Type
December 22, 2015
NOTICE: 2015-1222-01
Effective today, testing of the CBX order type is available in ICX's UAT environment. Please contact the ICX Operations Team for testing information.
Subject to regulatory approval, ICX intends to begin trading the new Continuous Block Crossing (CBX) order type on March 4, 2016.
For additional information on the CBX order type and interfacing with ICX, please visit the ICX web site:
- Market Specifications:
http://www.icxats.com/#about_cbx - Fix Specifications:
http://www.icxats.com/docs/ICX_CBX_Fix_Specifications.pdf
Testing of the CBX order type is available in ICX's UAT environment. Please contact the ICX Operations Team for testing information.
If you have any questions or concerns, please contact the ICX Operations Team:
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350
NOTICE: 2015-10001
Notice of Upcoming Holiday & Settlement Schedule and Hours of Operation
November 25, 2015
NOTICE: 2015-10001
| Trade Date | Settlement Date | Hours of Operation |
|---|---|---|
| Thursday, December 24, 2015 | Thursday, December 31, 2015 | 9:30 am to 1:00 pm (EST) |
| Friday December 25, 2015 | Closed | Closed |
| Monday December 28, 2015 | Closed | Closed |
| Thursday December 31, 2015 | Wednesday January 6, 2016 | Regular Hours of Operation |
| Friday January 1, 2016 | Closed | Closed |
If you have any questions or concerns, please contact the ICX Operations Team:
ICX Operations Team
E-mail: icxoperations@instinet.com
Phone: 416-304-6350