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Client Identifiers



 

On April 15, 2019, the applicable securities regulatory authorities approved amendments (Amendments) to the Universal Market Integrity Rules and the Dealer Member Rules to include client identifiers.

 

On April 15, 2019, the applicable securities regulatory authorities approved amendments (Amendments) to the Universal Market Integrity Rules and the Dealer Member Rules to include client identifiers and/or certain designations on:

  • each order for a listed security that is sent to a marketplace
  • each reportable trade in a debt security.

 

IIROC Notices regarding the Amendments Respecting Client Identifiers:

 

  • IIROC Notice 19-0179 – Rules Notice – Notice of Approval / Implementation – DMR – Amendments Respecting Client Identifiers for Reportable Debt Transactions (October 17, 2019).

  • IIROC Notice 19-0118 – Rules Notice – Request for Comment – DMR – Proposed Amendments Respecting Client Identifiers (July 11, 2019).

  • IIROC Notice 19-0071 - Rule Notice – Notice of Approval - UMIR and DMR – Amendments Respecting Client Identifiers (April 18, 2019).

  • IIROC Notice 18-0122 – Rule Notice – Request for Comments – UMIR and DMR – Publication of Proposed Provisions Respecting Client Identifiers (June 28, 2018).

  • IIROC Notice 17-0109 – Rules Notice – Request for Comment – UMIR and DMR - Proposed Provisions Respecting Client Identifiers (May 17, 2017).

 

Client Identifiers - Information

 

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Timelines

There will be a three-phased implementation period for the Amendments. The Amendments come into force on the following days after the publication of the Notice of Approval:

  • Phase 1 – 6 months, or October 18, 2019
  • Phase 2 – 18 months, or October 19, 2020
  • Phase 3 – 24 months, or April 19, 2021

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Technical Specifications

View "Proposed Strategy for Encryption of Client Identifiers" and "Fix Specifications"

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Legal Entity Identifiers

Where a Legal Entity Identifier (LEI) is required under the Amendments, the client must use an LEI that is issued in accordance with standards set by the Global Legal Entity Identifiers System (GLEIF).

GLEIF provides information on how to obtain an LEI, including a list of LEI issuing organizations for Canada, which can be accessed here.

GLEIF also maintains a publicly searchable database of all issued LEIs.

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Contact
  • Theodora Lam: Senior Policy Counsel, Market Regulation Policy

  • Tel: 416-646-7280

  • Email: [email protected]

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Video: How to use the Decision Tree & Scenarios Chart

Check out our new Client Identifiers' video, which shows you how to use the Decision Tree and Scenarios Chart...