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| Mandate |
To advise on the development of rules and policies related to the trading of fixed income securities. |
| Reports To |
Staff of IIROC |
| Specific Responsibilities |
The Committee provides advice on issues referred to IIROC for consideration by:
- the Bank of Canada and the federal Department of Finance related to the fixed income market (including rules and procedures governing Primary Dealers and Government Securities Distributors); and
- the Bourse de Montréal related to the fixed income derivatives market.
At the request of the President, the Committee may review and make a recommendations to the President or the Board respecting:
- the position to be taken by IIROC in response to a request for comments issued by a securities regulatory authority or self-regulatory organization that would impact trading of fixed income securities; and
- any other matter that, in the opinion of the President or the Board, the review or comment of the Committee would be desirable.
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| Membership |
Committee membership is limited to 15 comprised of:
- Dealer Members that are designated as Primary Dealers of Government of Canada Bonds by the Bank of Canada;
- Representative of the TSX, if the TSX chooses to be represented on the Committee;
- Marketplace Members, other than the TSX, that trade fixed income securities; and
- At least one independent person (i.e. not a director, officer or employee of a Member) who has experience or expertise that, in the opinion of the President and CEO or his/her designate, would benefit the Committee.
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| Ex-officio Members |
- President (or another officer of IIROC designated by the President); and
- Chair of the Board (or another member of the Board designated by the Chair or the Board).
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| Term |
2-year term, renewable |
| Nominating Process |
Each Dealer Member or Marketplace Member that meets the membership requirements may nominate one member to the Committee. |
| Appointment Process |
All nominees are reviewed by the President and CEO or his/her designate and, if accepted, appointed to the Committee. |
| Chair and Vice-Chair |
A Chair and Vice-Chair are elected by the members of the Committee for the 2-year term of the Committee. |
| Executive Committee |
No Executive Committee |
| Sub-Committees |
Standing Sub-Committees may be established at the initiative of Committee. The one existing Sub-Committee is the Retail Fixed Income Sub-Committee |
| Meeting Schedule |
Regular quarterly meetings and special meetings at the call of the Chair. |
Fixed Income Committee |
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| Jean-Marc Brule | FIN-XO Securities Inc. |
| Bruce Carroll | Ocean Securities Inc. |
| Jason Chang | Ontario Teachers' Pension Plan |
| Martin Flaemrich | CPP Investment Board |
| Anne Haldimand | TD Securities Inc. |
| Mark Hardisty | CIBC World Markets Inc. |
| Jayson Horner | CanDeal.ca. Inc. |
| Stewart Hunt | Scotia Capital Inc. |
| Kenneth Knowles | Canaccord Genuity Corp. |
| Mike Manning | Ontario Financing Authority |
| Stephen McHarg | Casgrain & Company Limited |
| Fred Smith | BMO Nesbitt Burns Inc. |
| Eric Tuer | Bank of Canada |
| Richard Van Nest | RBC Capital Markets |
| Richard Corner, SRO Representative | Investment Industry Regulatory Organization of Canada |
| Marc Poles, SRO Representative | Investment Industry Regulatory Organization of Canada |
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