Market Regulation Services Inc.

Market Regulation Services Inc.

March 04, 2005 13:35 ET

Clarification of problem with CTO Database on February 22 and 23


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MARKET REGULATION SERVICES INC.

MARCH 4, 2005 - 13:35 ET

Clarification of problem with CTO Database on February
22 and 23

TORONTO, ONTARIO--(CCNMatthews - March 4, 2005) - On February 23, 2005,
two issuers on the TSX Venture Exchange, King Energy Inc. (KNG) and
Canada's Pizza Delivery Corp (CPZ), were halted in error from 6:20 a.m.
to 10 a.m. Pacific due to a technical error in the Cease Trade Order
(CTO) database's electronic delivery system, which occurred on the
evening of February 22. The CTO database is a national repository of
issuer and non-issuer CTOs issued by provincial securities commissions
and is administered for these commissions by RS. CTOs issued by the
securities commissions are sent electronically upon issuance to
subscribers to the database. This error was rectified on February 23 by
RS and the third-party technical services provider, Crescent Group. The
halts were removed and notices were sent to the subscribers to the CTO
database. Immediate measures were put in place to prevent recurrences.
We regret any inconvenience this has caused.

About Market Regulation Services Inc. (RS)

RS is the independent regulation services provider for Canadian equity
marketplaces, including the TSX, TSX Venture Exchange, Canadian Trading
and Quotation System, Bloomberg Tradebook Canada Company and Liquidnet
Canada Inc. RS is recognized by the securities commissions of Ontario,
British Columbia, Alberta, Manitoba and the "Autorite des marches
financiers" in Quebec to regulate the trading of securities on these
marketplaces by participant firms and their trading and sales staff. RS
helps protect investors and ensure market integrity by ensuring all
equities transactions are executed properly, fairly and in compliance
with trading rules.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Market Regulation Services Inc. (RS)
    Doug Maybee
    Director of Communications & Public Affairs
    (416) 646-7253/(416) 627-3900 (Cell.)
    doug.maybee@rs.ca
    www.rs.ca