Market Regulation Services Inc. is promoting the first nationwide cease trade order database to help minimize the risk and inefficiencies associated with CTO compliance for securities dealers across Canada.

RS hired Toronto-based Crescent|Logic to develop the software. “Now, when a provincial securities commission issues a CTO, compliance professionals within the other commissions and all registered dealers receive an immediate e-mail notification,” explained Geordie Allen, CEO, Crescent|Logic. “At the same time, the centralized, multi-source repository puts the CTO documents these dealers need at their fingertips. It’s a real time-saver.”

Launched in March, the database has grown to over 7,000 CTO-related documents. Every day, the system automatically distributes four to five CTO notifications to compliance professionals at more than 135 registered dealers nationwide..

Accessible through www.regulationservices.com, the CTO database makes it easier to monitor CTOs, which are provincially regulated but have national influence. It contains the names of all companies whose shares have been cease-traded by any of the British Columbia, Alberta, Ontario, Quebec, and Manitoba securities commissions, including those traded on the TSX and TSX Venture Exchanges, as well as Canadian companies traded in other jurisdictions.

The CTO database also represents the only centralized source for CTOs of non-Canadian-exchange traded companies. It delivers real-time e-mail notifications to compliance departments; features online search capabilities, and will be expanded to automatically provide Standard & Poors-based CUSIP numbers for each CTO and further increase efficiencies at the dealer level.