DEFINITION of 'Universal Market Integrity Rules - UMIR'
A set of rules governing trading practices in Canada. These rules are set out by an independent regulator. UMIR were established to promote fair, equitable and efficient markets. Prior to the formation of the UMIR, each individual exchange was responsible for governing its trading practices. By making these practices universal Canadian exchanges ensure equal fairness and improve investor confidence in all the exchanges.
BREAKING DOWN 'Universal Market Integrity Rules - UMIR'
Various unethical trading practices have been regulated by UMIR. Some examples are manipulative or deceptive methods of trading, short selling, front running, trading halts, delays and suspensions.