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 | Omgeo Canada National Instrument 24-101 In many markets, it is increasingly accepted that regulatory standards are needed to drive change in operational areas. We believe that practical and well-informed regulation is the best way to encourage market change and that implementation of trade date matching will benefit the entire community. Canada is at the forefront of an evolving regulatory landscape with the National Instrument 24-101 (NI 24-101) mandate. NI 24-101 was initially developed by the Canadian Securities Administrators in 2004 to promote efficient and timely processing and settlement of institutional trades. Effective in April 2007, the mandate requires that Canadian capital market participants “have in place processes and procedures that allow trade matching within prescribed limits (performance targets), which will be phased in over a three-year period” (source: CCMA). The primary requirements of this mandate include: * Providing a Trade Matching Statement or a Trade Matching Agreement before execution * Implementing procedures that accelerate the trade process, enabling parties to meet trade date match requirements within specified timelines * Delivering exception reporting for those trades that do not meet trade matching requirements Omgeo is uniquely positioned to help clients meet their trade match and reporting requirements. Learn more about our offerings + To learn more about NI 24-101, please visit the CCMA site+ |
