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BC-2.7.16

Where an investment firm licensee has aggregated a client order with an order for other clients or with an order for its own account, and part or all of the aggregated order has been filled, it must:

(a) Promptly allocate the financial instruments concerned;
(b) Allocate the financial instruments in accordance with its stated policy;
(c) Ensure the allocation is done fairly and uniformly by not giving undue preference to itself or to any of those for whom it dealt;
(d) Give priority to satisfying client orders where the aggregation order combines a client order and an own account order, if the aggregate total of all orders cannot be satisfied, unless it can demonstrate on reasonable grounds that without its own participation it would not have been able to execute those orders on such favourable terms, or at all; and
(e) Make and maintain a record of:
(i) The date and time of the allocation;
(ii) The relevant financial instruments;
(iii) The identity of each client concerned;
(iv) The amount allocated to each client and to the investment firm licensee; and
(v) The price of each financial instrument and allocation.
Amended: July 2013
Amended: January 2007