🔥 Daily ChallengeCIREMarket integrity, trade execution and settlementEasy
Under UMIR 6.4(2), a Participant is EXEMPT from the requirement to execute a trade on a marketplace if the security involved is:
A TSX Venture Exchange listed security being traded by a retail client
A security that is not listed on an Exchange or quoted on a Quotation and Trade Reporting System (QTRS) in CanadaCorrect
Part of an initial public offering (IPO) during its first day of trading
Traded by an Institutional Client through an Algorithm
Why
This is the correct answer. Rule 6.4(2)(a) specifically exempts securities that are not listed or quoted in Canada from the requirement to trade on a marketplace.
