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Securities Regulators Publish Response to Comments on Straight-Through Processing

Feb 11, 2005

The Canadian Securities Administrators (CSA) are publishing their responses to industry comments received on a discussion paper on straight-through processing (STP) and related materials published last year. Discussion Paper 24-401 on Straight-through Processing and Proposed National Instrument 24-101 — Post-Trade Matching and Settlement acknowledge the importance of post-execution functions, advance the industry discussions on STP and build on previous initiatives to improve the securities clearing and settlement system in the Canadian capital markets.

CSA Notice 24-301 provides an update on industry and regulatory STP developments and a summary of the comments received on the STP Release. The Notice also discusses the CSA process going forward. The CSA remain committed to supporting an institutional trade-matching (ITM) rule in force by January 1, 2006, but intend to pursue this objective through a co-operative approach with the self-regulatory organizations (SROs) that also have an interest in establishing ITM requirements. Our objective is to have the appropriate rule or rules finalized by December 31, 2005. 
 
The CSA, the council of the securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

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Media contacts:                        

Eric Pelletier
Ontario Securities Commission
416-595-8913

Joni Delaurier
Alberta Securities Commission
403-297-4481

Philippe Roy
L'Autorité des marchés financiers
(514) 940-2176

Andrew Poon
British Columbia Securities Commission
604-899-6880