This list is published from time to time and identifies the group that each foreign currency is in. For margin and capital purposes, IIROC groups foreign currencies into 4 groups based on quantitative and qualitative criteria, which are detailed in section 5461 of the IIROC Rules and summarized in the notes and instructions to Schedules 11 and 11A of Form 1.
Each group is assigned a base spot risk margin rate and a term risk margin rate. IIROC monitors the spot risk of each currency in groups 1, 2, and 3, and increases the spot risk margin rate of a currency when its volatility exceeds certain thresholds. This increase is communicated through the list of foreign exchange (FX) spot risk margin rates for Canadian and U.S. base currency accounts.
A Dealer Member is to use this list, sections 5460 to 5469, and the list of foreign exchange (FX) spot risk margin rates for Canadian and U.S. base currency accounts in margining unhedged foreign exchange customer and Dealer Member (inventory) positions and any other customer and Dealer Member transactions that result in an exposure to foreign exchange risk.
Welcome to CIRO.ca!
We have a new look! You can find the Canadian Investment Regulatory Organization (CIRO) at CIRO.ca with our fresh look and feel.
You can now find new publications published by CIRO since January 1, 2023 on CIRO.ca. If you are looking for past notices or bulletins published by MFDA or IIROC, you can find those on our legacy websites. Enforcement related content will continue on those websites as well.
You can now find previous Annual Reports and Enforcement Reports on CIRO.ca, along with Halts and Resumption, and our ePublications sign up (for all previous MFDA and IIROC subscriber lists).
We will continue moving items off MFDA and IIROC in 2023/2024. Stay tuned for future updates.