The Board of Directors of the Investment Industry Regulatory Organization of Canada (IIROC) recently approved the republication for comment of amendments to the Notes and Instructions to Schedule 12 of Form 1 – Margin on Futures Concentrations and Deposits. According to IIROC Rules Notice 16-0141, the proposed amendments are intended to reflect the change in the futures markets over the past several years to more timely publication of margin requirements for futures contracts. Specifically, IIROC is proposing that the 15% margin provision be excluded where a futures exchange calculates and publishes maintenance margin every day.
Comments on the proposed amendments will be accepted until August 22, 2016.
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