Bloomberg Tradebook Canada has been admitted to the Investment Dealers Association.

The firm joined the IDA, effective July 31. It began seeking IDA membership in October 2001 in order to comply with the requirements of the alternative trading systems rules.

Bloomberg Tradebook Canada will assume the responsibility for offering the Bloomberg Tradebook System to Canadian brokers, dealers and institutional investors as soon as it is able to comply with the ATS rules. The system is currently operated by another Bloomberg unit, Bloomberg Tradebook LLC.

Approximately 90% of the Tradebook’s activity is limited to order-routing, but it does have an internal order-matching facility which constitutes it as an ATS.

Bloomberg Tradebook Canada has also applied for registration as an investment dealer in Ontario, Quebec, B.C. and Alberta.

The ATS rules came into force on Dec,1, 2001. The securities regulators in BC, Alberta, Ontario and Quebec granted Bloomberg Tradebook LLC an exemption from the requirements of the ATS rules until it could comply with them. That exemption was extended in April until July.