Ontario Order

By order dated October 7, 2014, the Ontario Securities Commission (“OSC”) granted the request of Nodal Exchange for exemption from recognition as an exchange under The Securities Act (Ontario) and registration as a commodity futures exchange under the Commodity Futures Act (“CFA”). In addition, the OSC exempted Ontario participants who are hedgers on Nodal Exchange from registration requirements under the CFA.  By a new order dated August 5, 2016, the prior exemptions were continued and the transition to Nodal Clear being the clearing house for Nodal Exchange contracts was acknowledged.  In addition, in regards to trades in Nodal Exchange contracts, banks listed in Schedule I to the Bank Act (Canada) who are participants in Ontario entering orders as principal and only for their own accounts are exempt from the registration requirement under the CFA.

All Nodal Exchange participants in Ontario are advised that:

  1. rights and remedies against Nodal Exchange may only be governed by the laws of the U.S., rather than the laws of Ontario, and may be required to be pursued in the U.S. rather than in Ontario;
  2. the rules applicable to trading on Nodal Exchange may be governed by the laws of the U.S., rather than the laws of Ontario; and
  3. Nodal Exchange is regulated by the CFTC, rather than the OSC.