Failed Trade Study


Continuing Education Credit

Compliance CE credit : 0.25

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This webcast highlights a study of failed trades to examine settlement failure of trades executed on Canadian equity marketplaces.

Market Regulation Services Inc. (RS) originally published a study of failed trades in 2007. This study was based on a sample of failed trades provided by a group of dealers. Since that time, we have dramatically improved our ability to conduct large-scale data analysis. We felt it was time to refresh our review to ensure our understanding is current and that our regulatory and compliance framework remains effective. Our goal was to provide high-level observations and update our understanding of this important topic. For this study, we used settlement data provided by CDS Clearing and Depository Services Inc., and internal data. In this webcast we discuss:

  • Prevalence of settlement failure
  • How long transactions take to settle
  • Relationship between settlement failure and short selling and short positions
  • Dealer outliers
  • Security outliers

Program Details

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MFDA and IIROC have consolidated

As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

We have set up an interim website for updates and information related to the New SRO including:

  • Executive Management
  • Governance
  • New SRO Rules
  • Member Application
  • Investor Office and the Investor Advisory Panel
  • Information concerning mutual fund dealers registered in Québec
  • Complaints
  • Careers

Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on and