CSA release updated FAQs regarding institutional trade matching and settlement

Posted on May 6, 2011

The Canadian Securities Administrators today released a revised version of CSA Staff Notice 24-305, which sets out questions and answers regarding compliance with National Instrument 24-101 Institutional Trade Matching and Settlement. The original version of the notice, published in December 2007, was updated to reflect recent amendments to NI 24-101 that came into effect last year and to address inquiries received by the regulators.

As we discussed in April 2010, the institutional trade matching requirement of noon on T + 1 was phased in and has been the DAP/RAP requirement since July 1, 2010. These changes were part of a comprehensive overhaul of institutional trade matching requirements first introduced in 2007 and discussed in detail in our post of June 2007.

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