IIROC Updates Short Selling Requirements: 

Changes include:

1) Repealing the tick test

2) Imposing a pre-borrow requirement under certain circumstances.

3) ‘Short Designation’ requirement: applicable sell orders for short selling purposes will require a ‘short’ designation.

4) ‘Short-Marking Exempt’ designation: intended for qualified neutral trade activity.

Related market participants should ensure they are familiar with the IIROC requirements and ensure they have policies and procedures in place to ensure compliance as applicable to their financial institution and to their related trade activity. For a more comprehensive and in-depth understanding of the rules please refer to the IIROC website accordingly.