List of securities eligible for reduced margin (LSERM)

Type: Rules Notice> Technical
Rule connection:
Legacy DMR Rules
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Member Regulation Policy
Bruce Grossman
Senior Information Analyst, Member Regulation Policy

Quarter ended September 30, 2021

This list is published quarterly and identifies securities that qualify for a reduced margin rate of 30% for client positions and 25% for Dealer Member (inventory) positions, which are:

  1. listed on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), or NEO Exchange, or
  2. inter-listed on the TSX and on a U.S. exchange.

The list has been prepared using data available for the quarter ended September 30, 2021. The list must be used to identify securities eligible for reduced margin as set out in Dealer Member Rules (DMRs) 100.2(f)(vi) and 100.12(a)(i)1  [Subsection 5310(1) of the IIROC Rules].

Eligibility status for cryptocurrency funds

Until further notice, cryptocurrency funds are not eligible for reduced margin. For cryptocurrency funds, margin eligibility may be determined according to the requirements set out in DMR 100.2(f)(i) [Subsection 5310(1) of the IIROC Rules].

Microsoft Excel format

LSERM is available in Microsoft Excel format on the IIROC website, under Rules and Enforcement – Dealer Member Rules – Supporting Schedules.

This list supersedes the most recently issued LSERM and will be effective on November 25, 2021 (which is fifteen business days following the issuance date of this Notice).

  • 1See IIROC Notice 21-0190 for more information on the IIROC Rules.