Proposed amendments to permit reduced margin for swap position partial offsets held in inventory

Date opened: August 4, 2022

Date closed: October 3, 2022

Status: Closed

Summary/details:

IIROC is proposing amendments to the IIROC Rules (Proposed Amendments) that would permit margin reductions for Dealer Member (Dealer) inventory offsets of:

  • non-equivalent notional amounts between two swap positions, and
  • non-equivalent quantities between swap positions and underlying securities.

The purpose of the Proposed Amendments is to align the margin requirements for swap contract offsets with the net position risk by extending the current margin treatment for swap offsets to partial swap offsets.

Notices about this consultation:

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 www.mfda.ca and www.iiroc.ca.