ASSANTE CAPITAL MANAGEMENT LTD. HOURS OF TRADING
ORDER HANDLING POLICY
The Canadian marketplace is constantly evolving. We would like to take this opportunity to outline Assante Capital Management Ltd.’s policies with respect to trading equities.
This policy disclosure is for your information only. Please keep in mind that it does not apply to your mutual fund transactions.
Assante Capital Management Ltd. (“ACM”) has broker arrangements with both CI Investment Services Inc. ("CIIS") for nominee accounts & National Bank Independent Network (“NBIN”) for margin account.
TRADE DESK HOURS OF OPERATION
ACM’s Trade Desk routes orders through our leading broker dealers, CIIS and NBIN who will provide to you and your financial advisor full order execution services between the hours of 9:30 AM and 4:00 PM, Eastern Standard Time (“EST”), during days on which the TSX is open for business (excluding statutory holidays).
While some marketplaces will provide order execution services outside the hours currently available on the TSX, please refer to the respective CIIS or NBIN best execution policy regarding its hours of operation. Due to concerns such as possible absence of adequate market liquidity, reference to the best execution of the respective broker arrangement should be taken into consideration in which best execution of your orders may be compromised. As such, we cannot guarantee order acceptance or execution outside of our standard hours of operation.
Note: CI Investment Services Inc. trading services is provided by ITG Inc (“ITG”). ITG is an affiliate of ITG Canada Corp. and a registered broker dealer, member of the Financial Industry Regulatory Authority (“FINRA”). ITG Inc. is required under the Securities and Exchange Commission rules to ensure that markets to which it sends orders are providing Best Execution. ITG Inc. is also subject to FINRA Rule 5310 Best Execution an Inter-positioning.
BEST EXECUTION
Best Execution represents the obligation on marketplace participants to diligently pursue the execution of each client order on the most advantageous execution terms reasonably available under market conditions at the time of execution. In seeking the “most advantageous execution terms reasonably available under prevailing market conditions”, the Market Regulator would expect that the Participant would take into account a number of general factors, including:
- the price at which the trade would occur;
- the speed of execution;
- the certainty of execution; and
- the overall cost of the transaction.
NOMINEE ACCOUNTS (CI INVESTMENT SERVICES INC., "CIIS")
In order to achieve best execution with clients and comply with market integrity rules and ensure that the best available price and most favorable execution are obtained for client orders. CIIS utilizes ‘smart order routing technologies’ to ensure that it meets the best execution requirements of the regulators. Assante Nominee accounts, best execution, best price policies, and procedures rely on the third-party trading systems Smart Order Routing (“SQR”) and ITG Order Routing evaluating multiple considerations relevant to the execution of an order in its routing methodology.
Please refer to the link below for CIIS best execution policy:
https://www.cidirecttrading.com/en/best-execution-client-disclosure
MARGIN ACCOUNTS (NATIONAL BANK INDEPENDENT NETWORK, “NBIN”)
In order to achieve best execution obligations, NBIN is committed to using all reasonable efforts to ensure that clients achieve best execution of trade orders. Employing the most technological advanced SOR technology (“SOR”) available relevant to the trading application and execution venue. Orders will be handled in accordance with NBIN’s best execution policy.
Please refer to the link below for NBIN best execution policy:
https://nbin.ca/publicsite/resources.html
QUESTIONS
Your financial advisor with ACM will gladly provide you with more details should you have any questions or require further clarification regarding ACM order handling procedures and hours of operation for equity trading.
