IIROC updates proposed rule regarding oversight of debt securities trading

13 janvier 2014

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Last week, IIROC republished a proposed rule that would require reporting of debt transactions. As we discussed last year, IIROC initially released a draft rule in February 2013 to require each IIROC dealer member to report on a post-trade basis all debt market transactions executed by the dealer member, including those executed on an Alternative Trading System (ATS) or through an Inter-Dealer Bond Broker (IDBB). The more recent version of the draft rule, whose purpose is to facilitate the creation of a database of transaction information that would enable IIROC to carry out its responsibilities with respect to surveillance and oversight of OTC debt market trading, includes a number of revisions in response to stakeholder comments.

Changes made to the latest revision include setting out the data elements that must be reported for transactions and extending the deadline to report transactions to IIROC from T+1 at 2:00 a.m. to T+1 at 2:00 p.m. 

Comments on the proposed rule are being accepted until March 10, 2014. For more information, see IIROC Notice 14-0004.

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