Canada – CIRO Universal Market Integrity Rules Re: Short Selling

Canada – CIRO Universal Market Integrity Rules Re: Short Selling

On 13 January 2026, CIRO published an annotated, unofficial UMIR version.

  • CIRO published an annotated version of the Universal Market Integrity Rules (UMIR).
  • Annotated version is current through 13 January 2026, is not the official version of UMIR.
  • Official version comprised of Schedule A.1 to Transition Rule No. 1, on CIRO website.

Topics Covered

  • Definitions, interpretation, abusive trading, short selling, frontrunning, best execution obligation, order entry/exposure, trading in a marketplace, principal trading, halts.
  • Also trading delays and suspensions, compliance, administration of the UMIR.
  • For material issued after 13 January 2026, refer to the list of Notices on CIRO website.