The Ontario Securities Commission (OSC), the Autorité des marchés financiers (AMF) and the Canadian Investment Regulatory Organization (CIRO) have granted regulatory approval for Project Samara, an experimental research project evaluating the use of distributed ledger technology (DLT) in the Canadian bond market. The project is being conducted by a consortium comprising RBC Dominion Securities Inc. (a member of RBC Capital Markets), RBC Investor Services Trust, the TD Securities division of the Toronto Dominion Bank, TD Securities Inc., the Bank of Canada (BoC) and Export Development Canada (EDC).
Platform and scope
Project Samara centres on a platform operated by RBC that uses DLT to support end-to-end bond transactions, including tokenized bond issuance by EDC, bidding, coupon payment, redemption, secondary trading and trade settlement. Notably, settlement of bond trades on the platform uses digital representations of wholesale Canadian dollars created and managed by the BoC on
