May 31, 2018 (Toronto, ON) – The Investment Industry Regulatory Organization of Canada (IIROC) announces that, effective today, it will take over the statistical reporting on secondary trading by all Government Securities Distributor- (GSD) and non-GSD Dealer Members currently carried out by the Bank of Canada (BoC).
IIROC’s monthly Debt Statistics Report (DSR) replaces the BoC-produced reports formerly known as the F11 to F14 tables, which were included in the BoC Banking and Financial Statistics. The DSR will be produced using debt securities transaction data reported to IIROC through the Market Trade Reporting System (MTRS 2.0), as required under IIROC Rules. IIROC will take over the publication of aggregate secondary market trading data due to the discontinuation of weekly statistical reporting to the BoC under the old MTRS system.
“The Bank of Canada’s request for IIROC to take over publishing this data recognizes our ability to leverage data already collected by IIROC for regulatory purposes,” says Victoria Pinnington, IIROC’s Senior Vice-President, Market Regulation. “This forms an important part of IIROC’s overall mandate to increase transparency and improve market integrity.”
This change is part of IIROC’s and the BoC’s objective of improving the usability, quality and reliability of published statistical data on secondary trading activity in debt securities. The DSR will be produced monthly. Because transaction data is provided to IIROC by Dealer Members through the MTRS 2.0, Dealers are responsible for the accuracy, completeness and timeliness of information provided.
IIROC is the national self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian debt and equity marketplaces.