Canadian Regulator To Implement New Electronic Trading Rules in May – RealTick EMS Prepares its Platform

Boston may be home to Eze Software Group, but the company has set its sights north of the border in

Boston may be home to Eze Software Group, but the company has set its sights north of the border in ensuring readiness for the proposed regulatory changes by federal Canadian regulator IIROC. The company’s RealTick EMS is a broker-neutral global execution platform which was granted US Patent approval last week, and is a relative newcomer to the institutional order execution sector, having been founded just two weeks ago as a result of the the amalgamation of Eze Castle Software, RealTick, and Tradar by TPG. The new Eze Software Group brings together these established solutions, to create a full suite of front, middle, and back-office tools for asset managers. In readiness for entry to the Canadian market, Eze Clients Comply with IIROC Rule NI 23-103.


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The Investment Industry Regulatory Organization of Canada (IIROC’s) National Instrument Rule 23-103 (NI 23-103) that is due to take effect on May 31, 2013 increases regulations on electronic trading and direct electronic access to marketplaces, and mandates risk management tools to control trade orders. The RealTick EMS helps clients comply with the pending IIROC rule through existing, user-controlled features such as notional value checks at multiple account layers (bank, branch, customer, and deposit), volume limit controls, wash trade prevention controls, stock restriction filters, short sale controls, a trading access “kill switch”, and real-time access for compliance managers.

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“The increased monitoring and frequent testing required by the pending regulatory changes demands an automated solution that can streamline the processes into current workflows,” said Bud Daleiden, Managing Director and Global Head of Business Development for Eze Software Group’s RealTick EMS division. “With the RealTick EMS, clients will be ready to satisfy the new requirements the day the rule takes effect, without compromising the efficiency of their business.”

“Eze Software Group endeavors to stay ahead of industry and market trends, including regulatory changes,” said Ken Byrne,MD, global head of sales and business development for Eze Software Group’s RealTick EMS division. “We are doing the same in advance of the new Canadian direct electronic access rule to provide RealTick EMS users with the tools to help them trade in compliance with regulations.”

Eze Software Group’s RealTick is being marketed as a global execution platform providing comprehensive trading, data and risk solutions. RealTick EMS features advanced multi-broker, global cross-asset execution capabilities with access to a network of more than 200 brokers worldwide.

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