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ARTICLE · 29 AUGUST 2007

Canadian Securities Administrators Implement Rules To Enhance Institutional Trade Matching And Settlement

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Earlier this year, the Canadian Securities Administrators (the "CSA") adopted National Instrument 24-101 – Institutional Trade Matching and Settlement ("NI 24-101" or the "Rule").

CanadaFinance and Banking
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Earlier this year, the Canadian Securities Administrators (the "CSA") adopted National Instrument 24-101 – Institutional Trade Matching and Settlement ("NI 24-101" or the "Rule"). Although the Rule came into force on April 1, compliance with certain important substantive provisions was delayed until October 1 and dealers and advisers should now be preparing for that deadline.

Background

Since 2000, the CSA and the Canadian Capital Markets Association ("CCMA") have been discussing the steps that need to be taken to achieve straight-through processing ("STP") of all securities trading in Canada. STP is seen as critical to lowering operational, market and settlement risks and maintain the global competitiveness of Canadian capital markets.1

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