Legal Counsel

June 6 2019
Categories Legal, Paralegal, Banking - Finance - Securities
Montreal, QC
The Legal Counsel, who may be based in the Montreal or Toronto office, will join the Montreal-based team of currently 3 lawyers and one paralegal and will report to the Chief Legal Officer, MX, CDCC. The Legal Counsel will primarily support the TMX cash and derivatives clearing houses, the Canadian Depository for Securities (CDS) and the Canadian Derivatives Clearing Corporation (CDCC). This role will advise on a wide range of regulatory and commercial matters, including compliance with domestic and international regulatory requirements (including rule and policy development), business development, operations, and risk management areas, as well as on the legal aspects of post-trade projects and initiatives. This role plays an integral part in supporting CDS and CDCC to effectively achieve their business objectives within the highly regulated context they evolve in.



As part of TMX GCO’s Montreal team which supports diverse TMX business units in the derivatives space and given the close business ties between CDCC and the Montreal Exchange, the Legal Counsel’s responsibilities may relate to broader regulatory matters that span beyond the TMX clearing houses.

TMX Group operates global markets and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, and Trayport which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London (UK).

TMX Group’s Office of the General Counsel is a high-performing legal team with offices in Toronto, Montreal, Vancouver and London and is responsible for providing TMX Group and its subsidiaries with the full suite of legal services they need to support and develop their businesses, including with respect to corporate, securities, governance, regulatory, commercial and intellectual property law.

The Legal Counsel, who may be based in the Montreal or Toronto office, will join the Montreal-based team of currently 3 lawyers and one paralegal and will report to the Chief Legal Officer, MX, CDCC. The Legal Counsel will primarily support the TMX cash and derivatives clearinghouses, the Canadian Depository for Securities (CDS) and the Canadian Derivatives Clearing Corporation (CDCC). This role will advise on a wide range of regulatory and commercial matters, including compliance with domestic and international regulatory requirements (including rule and policy development), business development, operations, and risk management areas, as well as on the legal aspects of post-trade projects and initiatives. This role plays an integral part in supporting CDS and CDCC to effectively achieve their business objectives within the highly regulated context they evolve in.

As part of TMX GCO’s Montreal team which supports diverse TMX business units in the derivatives space and given the close business ties between CDCC and the Montreal Exchange, the Legal Counsel’s responsibilities may relate to broader regulatory matters that span beyond the TMX clearinghouses.

Key Accountabilities:

  • Guide the development, drafting, adoption, implementation and, where relevant, harmonization of policies, rules and procedures in compliance with relevant legislation and regulatory requirements in close collaboration with the business groups

  • Liaise with various derivatives and securities regulators and stakeholders in Canada and abroad and closely collaborate with Canadian securities regulatory authorities and the Bank of Canada on the implementation of rules, policies and regulatory matters

  • Provide ongoing legal support and advice to CDS and/or CDCC operational units (including relationship management, issuer services, risk management, and clearing operations) with respect to client inquiries and requests, clearing, settlement, and depository operations, and CDS and CDCC’s roles as clearing agencies and domestic and international tax withholding agents

  • Coordinate and assist with clearinghouse regulatory and legislative reporting obligations

  • Act as a key legal adviser on post-trade business initiatives and projects

  • Perform knowledge management related to Canadian and international legal developments, regulatory requirements and market standards which are relevant to the clearinghouses, and lead internal efforts to communicate and educate TMX employees on these developments

  • Play an active role in supporting and managing the clearing houses’ advisory committees and working groups

  • Lead or contribute to advocacy initiatives with respect to proposed provincial, federal, and international legislation or policies which affect the clearing houses and their members

  • Perform research and analysis and develop and share expertise on regulatory matters that impact the clearing houses and their affiliates

Must Haves:

  • Member in good standing of the Quebec Bar or similar designation in another Canadian province

  • At least 8 years experience as a well-rounded lawyer dealing with securities and regulatory issues, or public companies/financing/banking/bankruptcy matters with a top tier law firm or in-house at a financial services institution or investment firm

  • Fully bilingual (French-English), spoken and written

  • Excellent analytical and communication skills; demonstrated consistent and prompt use of sound legal and business judgment.

  • A pragmatic approach, including the ability to simplify legal constructs and concepts for business colleagues and non-legal audiences

  • Effective team player and able to build strong relationships with all levels of the organization.

  • Ability to quickly embed themselves into the business while persistently driving a “business partner” approach to supporting clients and various internal and external stakeholders

  • Performance-driven, proactive and engaged

  • Thrive in a constantly changing environment

  • Knowledge of trading, clearing and settlement, market operations, or market structure issues considered a strong asset.

  • Significant experience in drafting and negotiating agreements and other documents considered a strong asset

The ability to effectively align a broad range of key stakeholders’ interests will be key to success in this role.

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.

Apply now!

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