CSA propose amendments to NI 24-101
The Canadian Securities Administrators (CSA) have recently published proposed amendments to National Instrument 24-101 Institutional Trade Matching and Settlement (NI 24-101) and its companion policy for a 90 day comment period. Principally, the proposed amendments would postpone, from July 1, 2010 to July 1, 2015, the requirement to match DAP/RAP trades by no later than midnight on the trade date. Further, the CSA are proposing to extend for two years the current deadline for matching DAP/RAP trades from noon on the business day following the trade to 2:00 p.m. on the business day following the trade. Documentation and exception reporting requirements, meanwhile, would also be amended under the proposals. Comments are being accepted on the proposals until January 28, 2010.
For more information on the history of NI 24-101, see our posts of June 8, 2007 and September 14, 2007.
