Straight Talk
Extension of transitional phase-in period for National Instrument 24-101
Today, the Canadian Securities Administrators (CSA) announced the extension of the transitional phase-in period for National Instrument 24-101 - Institutional Trade Matching and Settlement by an additional 24 months. This decision will defer the requirement to match delivery against payment (DAP) and receipt against payment (RAP) trades by midnight on trade (T) to July 1, 2010.
The modified implementation timeline is as follows:
|
For DAP/RAP trades executed |
Matching deadline |
Trigger for registrant exception reporting |
|
Sept. 30, 2007 - Dec. 31, 2007 |
T+1 at noon |
Less than 80% matched
|
|
Jan. 1, 2008 - June 30, 2010 |
T+1 at noon |
Less than 90% matched |
|
July 1, 2010 - Dec. 31, 2010 |
T at 11:59 p.m. |
Less than 70% matched |
|
Jan. 1, 2011 - June 30, 2011 |
T at 11:59 p.m. |
Less than 80% matched |
|
July 1, 2011 - Dec. 31, 2011 |
T at 11:59 p.m. |
Less than 90% matched |
|
Jan. 1, 2012 onward |
T at 11:59 p.m. |
Less than 95% matched |
If you have questions or require additional information, please contact your relationship manager or client and advisor services group representative.
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