IIROC To Act As Information Processor For Corporate Debt Securities

Effective July 4, 2016, the Investment Industry Regulatory Organization of Canada (IIROC) will act as an information processor for corporate debt securities under National Instrument 21-101 Marketplace Operation.  Can PX Inc. is the existing information processor and its term ended on June 30, 2016.

Increasing post-trade transparency of corporate debt securities has been a key area of focus for the Canadian Securities Administrators (CSA) recently.  Some of the CSA's objectives include facilitating more informed decision-making, improving market integrity and evaluating whether access to the fixed income market is fair and equitable for all investors.  According to CSA Staff Notice 21-318 Information Processor for Corporate Debt Securities  (CSA Staff Notice 21-318), moving from an industry-based information processor to a regulatory approach led by IIROC will facilitate its objectives in this regard.