Notice 2006-003 - Revised CNQ Dealer Application
Notices
Notice 2006-003 - Revised CNQ Dealer Application
REVISED CNQ DEALER APPLICATION
CNQ has revised the form for new applications to become CNQ Dealers. The new form is effective immediately as a �housekeeping� amendment as the only changes are to:
� remove items that are not necessary to process the application;
� correct errors; and
� update terminology.
For these reasons, existing CNQ Dealers and dealers who have an application currently being processed do not have to refile using the new form.
Currently, the form asks if the applicant wishes to be a market maker. This is not necessary to process the application as a CNQ Dealer is not required to be a market maker, and, in any event, a separate application must be made each time the dealer wishes to become a market maker in a particular listed security.
The form also asks for information concerning traders who are to be approved to trade on CNQ. A Dealer does not have to designate traders in order to have an application approved, however, no trader employed by the dealer will be given access until he or she is approved. Dealers will use the �Request to Add Trader� form, which is currently used to add new traders after the dealer is approved, for all traders.
The form has also been revised to reflect the fact that CNQ has only ever charged dealers an application fee, not an application and set-up fee. The references to �Head Compliance Officer� and �CDS Clearing Number� in the application have been updated to reflect current terminology.
Blacklined copies of the amended form is attached. Clean copies are available on the CNQ website at www.cnq.ca under �Info for Dealers.�
CNQ has revised the form for new applications to become CNQ Dealers. The new form is effective immediately as a �housekeeping� amendment as the only changes are to:
� remove items that are not necessary to process the application;
� correct errors; and
� update terminology.
For these reasons, existing CNQ Dealers and dealers who have an application currently being processed do not have to refile using the new form.
Currently, the form asks if the applicant wishes to be a market maker. This is not necessary to process the application as a CNQ Dealer is not required to be a market maker, and, in any event, a separate application must be made each time the dealer wishes to become a market maker in a particular listed security.
The form also asks for information concerning traders who are to be approved to trade on CNQ. A Dealer does not have to designate traders in order to have an application approved, however, no trader employed by the dealer will be given access until he or she is approved. Dealers will use the �Request to Add Trader� form, which is currently used to add new traders after the dealer is approved, for all traders.
The form has also been revised to reflect the fact that CNQ has only ever charged dealers an application fee, not an application and set-up fee. The references to �Head Compliance Officer� and �CDS Clearing Number� in the application have been updated to reflect current terminology.
Blacklined copies of the amended form is attached. Clean copies are available on the CNQ website at www.cnq.ca under �Info for Dealers.�
Related Downloadable Files
| Revised Dealer Application - Clean Version | |
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[133,226 bytes]
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| Revised Dealer Application Blacklined to Show Changes | |
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[144,952 bytes]
Revised Dealer Application Blacklined to Show Changes |
