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.

RELATED TERMS
  1. Canadian Competition Act

    A federal law that governs business practices in Canada. The ...
  2. Best Practices

    A set of guidelines, ethics or ideas that represent the most ...
  3. Five Percent Rule

    A regulation that requires a broker to use fair practices and ...
  4. Fair Trade Investing

    Investing in companies or projects that promote fair trade with ...
  5. Federal Reserve Regulations

    Rules put in place by the Federal Reserve Board to regulate the ...
  6. Unfair Trade Practice

    Using various deceptive, fraudulent or unethical methods to obtain ...
Related Articles
  1. Trading

    Why is Short Selling Legal? A Brief History

    Short selling -- selling borrowed stock in hopes the price goes down --used to be unregulated.
  2. Insights

    Explaining Limited Government

    Limited government is a political viewpoint that favors few, if any, government controls on individuals and the economy.
  3. Financial Advisor

    What is Rule 48?

    Rule 48 is a tool used by market operators to expedite trading in the opening hour, during periods of extreme volatility.
  4. Insights

    What's an Exchange?

    An exchange is an organized marketplace where securities and other financial instruments are traded.
  5. Insights

    The Pitfalls Of Financial Regulation

    Regulatory actions usually have lofty intentions that end up with unintended and negative consequences.
  6. Trading

    Top 10 Rules For Successful Trading

    Whether you're a novice or an expert, these 10 rules should be the backbone of your trading career.
  7. Investing

    The Uptick Rule: Does It Keep Bear Markets Ticking?

    This rule prevents traders from driving stocks down, but its effect on market volatility is debatable.
  8. Small Business

    Governance Pays

    Learn about how the way a company keeps its management in check can affect the bottom line.
  9. Trading

    The Canadian Dollar: What Every Forex Trader Needs To Know

    Canada is becoming an increasingly viable alternative to the U.S. dollar, making it more important in the forex market.
  10. Insights

    Investment Firms Could Be the Losers in New Fed Rule

    A new Fed rule attempts to prevent another financial crisis by rewriting financial contracts between investment firms and big banks.
RELATED FAQS
  1. What is a call rule?

    A call rule is a rule used in the futures exchange market. It is a rule that requires the formal bidding amount of a cash ... Read Answer >>
  2. What is the difference between the rule of 70 and the rule of 72?

    Find out more about the rule of 70 and the rule of 72, what the two rules measure and the main difference between them. Read Answer >>
  3. What impact does government regulation have on the financial services sector?

    Learn about how the financial services industry is affected by government regulation, and the different types of regulations ... Read Answer >>
  4. What is the downtick-uptick rule on the NYSE?

    To ensure orderly markets, the New York Stock Exchange (NYSE) has a set of restrictions that it can implement when experiencing ... Read Answer >>
  5. How does investing in the banking sector differ between the U.S. and Canada?

    Discover why some investors prefer Canadian to U.S. banks. Learn how trades of Canadian bank shares are executed in both ... Read Answer >>
  6. What are the SEC (Securities And Exchange Commission) rules about OTC (over-the-counter) ...

    Find out how the Securities and Exchange Commission and the Financial Industry Regulatory Authority regulate trades on the ... Read Answer >>
Hot Definitions
  1. IRS Publication 970

    A document published by the Internal Revenue Service (IRS) that provides information on tax benefits available to students ...
  2. Federal Direct Loan Program

    A program that provides low-interest loans to postsecondary students and their parents. The William D. Ford Federal Direct ...
  3. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  4. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  5. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  6. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
Trading Center