Straight Talk  

Monthly trade match report card available to all investment managers

Effective November 2007, CIBC Mellon will provide investment managers with a monthly trade match report card for all Canadian Depository for Securities (CDS) buy and sale trades, with a trade date not equal to settlement date.

The monthly report cards will provide trade match rates based on volume and dollar value, and an analysis of trade matching rates by:

• Debt versus equity 
• Canadian dollar versus U.S. dollar activity at CDS
• Transaction match rates by performance targets
  

This monthly report card makes it easier for investment managers to meet the new trade matching reporting requirements under National Instrument 24-101 - Institutional Trade Matching and Settlement. 

NI 24-101 is designed to lower operational risks in the Canadian marketplace by encouraging greater trade matching rates on trade date at CDS.

According to NI 24-101 guidelines, effective February 2008,  investment managers are required to report fourth-quarter 2007 trade matching performance to the Canadian Securities Administrators, if they fail to achieve prescribed trade-matching milestones.

As a leading asset servicing provider, CIBC Mellon anticipates that our monthly trade match report card will help you to fulfil your mandated requirements.

Please contact your service representative if you have feedback, or suggestions for improvement.

Sheila Munro, director, investment manager relations 

*  *  *

Straight Talk is provided for general information purposes only and CIBC Mellon Global Securities Services Company, CIBC Mellon Trust Company, CIBC, The Bank of New York Mellon Corporation and their affiliates make no representations or warranties as to its accuracy or completeness. Readers should be aware the content of this publication should not be regarded as legal, accounting, investment, financial or other professional advice nor is it intended for such use.