The Ontario Securities Commission (OSC) approved proposed amendments to the Investment Industry Regulatory Organization of Canada (IIROC) Dealer Member Rule 100.10(k) Optional use of TIMS or SPAN.
The amendments relate to the optional use of TIMS or SPAN for margining Dealer Member firm account positions constituted exclusively of positions in derivatives at the Montreal Exchange. The stated objective of the amendments is to harmonize IIROC Dealer Member Rule 100.10(K) with similar amendments proposed by the Montreal Exchange, which are related to changes by the Canadian Derivatives Clearing Corporation to address procyclicality of margin. The amendments will be in force as of November 30, 2015.
For further information, please see the OSC Staff Notice of Commission Approval and IIROC Rules Notice 15-0249.
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