November 13, 2018 (Toronto, Ontario) – Effective January 2019 the Investment Industry Regulatory Organization of Canada (IIROC) will begin publishing transaction-based one- and three-month Bankers’ Acceptance (BA) rates. These rates will be published on the IIROC website on a delayed basis, for informational purposes only, and will replace the BA rates published on the Bank of Canada website.
The rates will be produced using BA trading data reported to IIROC through the Market Trade Reporting System (MTRS 2.0). In May, IIROC took on responsibility for the publication of debt statistics reporting from the Bank of Canada. The publication of the BA rates is another step in IIROC’s work with the Bank of Canada to further enhance the transparency of the debt market in Canada for the benefit of all market participants. More information on the Bankers’ Acceptance rate is available on the Bank of Canada’s website.
“This most recent change is part of IIROC’s and the Bank’s objective of improving the quality and reliability of published debt market securities data,” says Victoria Pinnington, IIROC’s Senior Vice-President, Market Regulation. “We are pleased to continue collaborating with the Bank of Canada, leveraging the data already being collected by IIROC for regulatory purposes and strengthening our mandate to increase market transparency and integrity.”
Further details, including the calculation methodology, will be released by early December.
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.