IIROC is working with the Canadian Securities Administrators (CSA) to enhance transparency and improve regulation in Canada’s fixed income markets and facilitate more informed decision-making by all market participants.
Before November 2015, the debt market in Canada was largely opaque to investors and other market participants. At that time, IIROC began collecting information from the firms it regulates on all debt securities transactions (see IIROC Rule 2800C).
The CSA is leveraging the bond trade information that IIROC collects to increase transparency by having IIROC also serve as the “information processor” that publicly disseminates this data (subject to certain reporting delays and volume caps - see CSA Staff Notice 21-317
In this role, IIROC publishes the information it collects on a dedicated public web site.
- A list of the bonds displayed on the site and their selection criteria
- Bond prices and volumes
- A search and display function for “issuer name” and/or “CUSIP/ISIN codes” that allows users to look up information on trades in specific bonds
- Summary level trade data
- Transaction data for each bond
- A glossary and other helpful information.
By providing this information, IIROC is delivering enhanced transparency to all participants in the Canadian debt securities marketplace.