Operational Policies

Enhancements and Updates

Enhancements & Updates

From time to time, TriAct will introduce enhancements and/or corrective updates to the MATCHNow® system as follows.

Planned Feature Enhancements

TriAct will provide at least 60 days notice to Subscribers and Access Vendors (Customers) prior to the introduction of new planned features, and will provide significant opportunity for Customers to test their systems against the new functionality before it is introduced into the production marketplace. Where more than 60 days is required for the industry to prepare, TriAct will consult with Customers to establish an acceptable schedule.

Emergency Patches & Corrective Updates

In order to address issues affecting the immediate operation of the MATCHNow® marketplace or its Customers’ systems, TriAct may occasionally be required to install software fixes on short notice. TriAct will work with Customers to schedule the introduction of these changes as quickly as possible, taking into consideration the impact (if any) on their systems and the need (if any) for testing.

Restart Policy

System Restarts Following Unplanned Service Interruptions

After an unplanned service interruption, TriAct Canada Marketplace will restart the MATCHNow® system with attention to the time required for Subscribers and Access Vendors (Customers) to facilitate returning their order flow to MATCHNow®.

Matching Halted, Order Entry Available

If the service interruption is such that order entry is available to the MATCHNow® system while trading is suspended, a Notice will be sent to all Customers of the impending resumption of trading once the issue has been resolved. An example of this type of interruption would be when market data is unavailable from a primary marketplace.

Sample Notice (sent at 11:02am):

“Please be advised that MATCHNow® will resume trading at 11:05am. Please call TriAct Support at 416-861-1010 X0 with any questions or concerns.”

Matching Halted, Order Entry Unavailable

When the problem has been resolved, a Notice will be sent detailing the following:

  • Time order entry will be available
  • Users will be advised that TriAct support can assist with cancellation of orders
  • Trading will not resume for the day if the opening time would be 3:45pm or later

Trade CXL & Amendment

Trade Date

Where a trade resulted from an error made by a MATCHNow® participant, the participant should contact TriAct Support at 416-861-1010 x0 or support@matchnow.ca 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.

Post Trade Date

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.


  • Enhancements and Updates

    Download this policy as a PDF.

  • Restart Policy

    Download this policy as a PDF.

  • Trade Cancellation and Amendment Policy

    Download this policy as a PDF.


Latest Updates

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  • November 2018 Monthly Highlights

    MATCHNow® attained market share by volume of 6.45% for November, compared to previous month of 6.19%. MATCHNow® attained market share by volume of 5.95% for November, compared to previous month of 5.97%.

    Read More
  • Week Ending Nov 30th, 2018

    MATCHNow’s market share by volume for the week ending Nov 30th was 6.27% compared to previous week of 6.27%. MATCHNow’s market share by value for the week ending Nov 30th was 5.59% compared to previous week of 5.84%.

    Read More