The securities division of The Manitoba Securities Commission protects investors and promotes fair and efficient capital markets throughout the province by conducting operations including registrations, processing of applications and prospectuses, preparing matters for the referral to the Commissioners and conducting investigations, prosecutions and other hearings.
Under The Securities Act (Manitoba) and The Commodity Futures Act (Manitoba), the MSC has the statutory power to recognize or exempt exchanges from the recognition requirement found in the Act. This authority allows exchanges to carry on business in Manitoba and sets out the terms and conditions under which they are regulated.
The MSC, along with certain other Canadian securities regulators, is a signatory to a Memorandum of Understanding (MOU) covering the coordination of regulation and oversight of exchanges and quotation trade reporting systems.
The following contains the MOU and the list of exchanges, lead regulators, and exempting regulators.
Memorandum of Understanding about the Oversight of Exchanges and Quotation of Trade Reporting Systems– December 17, 2010
MSC Staff Notice 2020-24
ICE Futures Canada Inc. was a recognized exchange in Manitoba until August 21, 2018.
ICE Futures Canada Inc. Revocation Order No. 7459 – August 21, 2018
ICE Futures Canada Inc. Recognition Order No. 5718 – June 16, 2008
A clearing agency provides facilities for buyers and sellers of securities and futures contracts to clear and settle transactions. Under The Securities Act (Manitoba) and The Commodity Futures Act (Manitoba), the MSC has the statutory power to recognize, designate, or exempt clearing agencies and clearinghouses from the recognition requirements under the Act. This authority allows clearing agencies to carry on business in Manitoba and sets out the terms and conditions under which they are regulated.
The MSC, along with certain other Canadian securities regulators, is a signatory to a related MOU:
- Notice of Memorandum of Understanding Respecting the Oversight of Clearing Agencies, Trade Repositories and Matching Service Utilities
ICE Clear Canada was a recognized clearing house in Manitoba until August 13, 2018.
A trade repository is an entity that collects and maintains reports about the trades of certain derivatives. The Securities Act (Manitoba) provides the MSC with the power to designate a trade repository.
The establishment and operation of Alternative Trade Systems (ATS) are governed by the regulatory framework in National Instrument 21-101 Marketplace Operation and National Instrument 23-101 Trading Rules. To carry on business, an ATS must be registered as an investment dealer in Manitoba and must be an active member of CIRO.
The MSC has issued orders allowing the following ATS to operate in Manitoba:
- Bloomberg Tradebook Canada
- Instinet Corporation and Instinet Canada Limited
- TriAct Canada Marketplace LP
- CanDeal.ca Inc. and Tradeweb LLC
- CollectiveBid Systems Inc. and CBID Securities Inc.
The Canadian Public Accountability Board (CPAB) is responsible for the regulation and oversight of public accounting firms that audit Canadian reporting issuers, and for promoting the integrity of financial reporting.
CPAB is recognized under The Securities Act (Manitoba) as an auditor oversight body.
For more information: