GLMX expands into Canada with recent OSC approval
22 October 2021 Canada
Image: R_M_Nunes/stock.adobe.com
GLMX Technologies LLC, a technology solution for the trading of repurchase agreements and securities lending, has been approved to operate in Alberta, British Columbia, Ontario, Quebec, and Nova Scotia.
The approval by the Ontario Securities Commission (OSC) comes under an exemption from marketplace rules granted by regulators in the listed jurisdictions. The exemption — which is based on GLMX’s existing regulatory structure as an alternative trading system (ATS) in the US, along with various other terms and conditions — enables users of GLMX with addresses in those jurisdictions to negotiate securities financing transactions (SFTs).
Glenn Havlicek, CEO and co-founder at GLMX says: “GLMX has experienced exceptional interest from our clients in Canada. We are pleased to be able to provide GLMX technology which will enhance efficiency and transparency in the critical Canadian securities finance market.
“We’re delighted that our exemption application has been granted, which allows GLMX to expand its global footprint while demonstrating its commitment to regulatory compliance in all geographies in which the company provides its services.”
Earlier this year, GLMX was admitted as a new member of International Capital Market Association (ICMA), joining a list of industry experts to provide strategic insights into the global capital markets landscape through innovative projects and discussion groups.
GLMX was approved in 2018 as a registered ATS with the Securities and Exchange Commission (SEC) and is an SEC-registered broker-dealer, as well as a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation.
The approval by the Ontario Securities Commission (OSC) comes under an exemption from marketplace rules granted by regulators in the listed jurisdictions. The exemption — which is based on GLMX’s existing regulatory structure as an alternative trading system (ATS) in the US, along with various other terms and conditions — enables users of GLMX with addresses in those jurisdictions to negotiate securities financing transactions (SFTs).
Glenn Havlicek, CEO and co-founder at GLMX says: “GLMX has experienced exceptional interest from our clients in Canada. We are pleased to be able to provide GLMX technology which will enhance efficiency and transparency in the critical Canadian securities finance market.
“We’re delighted that our exemption application has been granted, which allows GLMX to expand its global footprint while demonstrating its commitment to regulatory compliance in all geographies in which the company provides its services.”
Earlier this year, GLMX was admitted as a new member of International Capital Market Association (ICMA), joining a list of industry experts to provide strategic insights into the global capital markets landscape through innovative projects and discussion groups.
GLMX was approved in 2018 as a registered ATS with the Securities and Exchange Commission (SEC) and is an SEC-registered broker-dealer, as well as a member of the Financial Industry Regulatory Authority (FINRA) and Securities Investor Protection Corporation.
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