Wednesday March 14 2018

News Source: Global Exchanges

Focus: Other

Type: General




On 8th March 2018, Investment Industry Regulatory Organization of Canada (IIROC) released a Consultation paper which summarises a list of proposed Regulatory Changes.

The Proposed Amendments would:

  • Shorten the transaction reporting deadlines for debt securities to align with the change to shorter settlement cycles. This would mean transaction reporting times would correspond with the T+2 Settlement Cycle. The proposed shorter reporting deadlines would allow IIROC to facilitate overnight data reconciliation which would, in turn, help IIROC Debt Surveillance deal with alerts and issues before settlement.
  • Remove the reporting requirement on alternative trading systems (ATSs) when trades in debt securities are executed against a Dealer Member to eliminate duplicative reporting.
  • Add new data fields to enhance the surveillance capabilities of IIROC Debt Surveillance and assist with the regulatory functions of the Bank of Canada.

While no effective date for these proposals has been confirmed, the Proposed Amendments would be effective at least 90 days after the publication of their Approval. The amendments if implemented will amend the Dealer Member Rules.

IIROC invites Market participants to submit their proposals on the new Amendments. The deadline for submissions is 6th June 2018.

For additional information click the link above.