The Investment Industry Regulatory Organization of Canada (IIROC) Monday issued its first “short report”, in an effort to help improve market transparency.
IIROC issued its first semi-monthly Short Sale Trading Summary Report, which sets out the proportion of short sales in the total trading activity of each listed security across all equity marketplaces. The first report covers the period from Jan. 1 to 15.
The new report comes as part of the regulator’s effort to address issues associated with short selling and failed trades. The purpose of the report is to “help establish a better appreciation for the ‘normal’ levels of short selling for each security,” it says.
Each report will summarize all short selling activity, traded on all marketplaces, for each listed security, based on orders containing the ‘short sale’ order designation at the time the order is executed. It will also provide details on the number of trades, and the volume and value traded, both in absolute terms, and as a proportion of total trading activity.
IIROC says it intends to post the reports to its website on the fourth business day following the end of each bi-weekly period.