Trade confirmation disclosure guidance finalized

The Investment Industry Regulatory Organization of Canada (IIROC) today issued final guidance on how to increase the efficiency of the disclosure process for trade confirmations from dealer members.

The guidance consolidates and clarifies acceptable marketplace and average price disclosure language for use on trade confirmations. In particular, it permits dealer members to use general average price disclosure language on all trade confirmations.

This will be the case regardless of whether a transaction price represents an average of multiple trade execution prices or the price of a single trade.

Requirements remain for clients to be able to obtain further details of the execution of any order at no cost from dealer members, and trade confirmations still must contain requisite information such as price and commission charges.

Read:

Faster trade confirmation disclosures on the way

IIROC releases more flexible trading rules

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