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S3 Enables Compliance With Recently Amended IIROC Best Execution Regulations In CanadaAUSTIN, Texas, Aug. 17, 2017 /PRNewswire/ -- S3 ("the Company"), a financial services software company providing innovative solutions to monitor and analyze trade execution for fixed income securities, equities, and options, today released a statement regarding the Company's data analytics solutions and the recent updates to best execution regulations issued by the Investment Industry Regulatory Organization of Canada (IIROC). IIROC recently amended its Rules Notice 16-0233, Notice 16-0234 and Rule 3300 to consolidate best execution requirements for broker-dealers, including as they pertain to these firms' obligations to provide clients with fair pricing of over-the-counter (OTC) securities. The amended regulations explicitly require broker-dealers to establish, maintain, and ensure compliance with written policies and procedures that are reasonably designed to achieve best execution when acting for a client. Mark Davies, CEO of S3, commented, "The amendments recently issued by IIROC are indicative of the continued push by regulatory entities in all major financial markets to hold firms accountable for attaining optimal execution for client orders, in order to promote a more transparent and fairer marketplace. At S3 we seek to improve trust in the securities industry, and as such we provide customers with unmatched insight into variables impacting execution quality. As regulatory oversight increases, our Canadian customers can rest assured knowing that they have the tools in place to remain fully compliant." Specific aspects of the amendments, which will become effective in January 2018, include:
Mr. Davies concluded, "Per the amended IIROC regulations, firms are expected to ensure that prices provided to its clients are fair and reasonable. Determining what constitutes 'fair and reasonable' can be especially difficult for OTC bond transactions given the relative opacity of the fixed income market. Our product suite mitigates this issue by enabling customers to conduct deeper analysis on their orders in order to adapt their trading operations to best suit the needs of their clients, ultimately improving trust in the securities markets and streamlining regulatory compliance for our Canadian customers." For more information please visit: www.S3.com. About S3 Contact:
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