Where a trade resulted from an error made by a MATCHNow® participant, the participant should contact TriAct Support at 416-861-1010 x0 or firstname.lastname@example.org to request a cancellation / amendment.
Where a cancellation, variation or correction is requested by a MATCHNow® participant, TriAct will solicit consent from the counterparty and if received the change will be made with notification to both parties and to IIROC. TriAct will require IIROC’s approval on any price variation or volume increases.
In certain circumstances, IIROC may contact TriAct to request a trade cancellation / amendment.
Incorrect price and/or volume increases will be referred to IIROC for approval to cancel / amend. The IIROC decision will depend on whether the trade was clearly erroneous (i.e. deviated from the expected outcome) and whether it created a UMIR violation.
If IIROC instructs that the trade must be cancelled / amended, TriAct will inform both parties to the trade before effecting the change.
If IIROC instructs that the trade may be cancelled / amended, TriAct will consult with both parties; if they mutually agree, the trade will be cancelled / amended; if not, the trade will stand.
If IIROC instructs that the trade must stand, no change will be made.
Adjustments to other order properties:
When a cancellation, variation, or correction is necessary to correct an error caused by a MATCHNow® system malfunction or by an individual acting on behalf of TriAct, TriAct will first get approval from IIROC and then inform both parties to the trade.
Requests to cancel / amend a trade after trade date should be directed to CDS. TriAct will coordinate with CDS and IIROC, and will make any necessary adjustments to the official trade record. Post trade date cancellations / amendments will not be broadcast on the TriAct market data feed.