Effective July 4, 2016, the Investment Industry Regulatory Organization of Canada (IIROC) will act as an information processor for corporate debt securities under National Instrument 21-101 Marketplace Operation. Can PX Inc. is the existing information processor and its term ended on June 30, 2016.
Increasing post-trade transparency of corporate debt securities has been a key area of focus for the Canadian Securities Administrators (CSA) recently. Some of the CSA’s objectives include facilitating more informed decision-making, improving market integrity and evaluating whether access to the fixed income market is fair and equitable for all investors. According to CSA Staff Notice 21-318 Information Processor for Corporate Debt Securities (CSA Staff Notice 21-318), moving from an industry-based information processor to a regulatory approach led by IIROC will facilitate its objectives in this regard.