List of securities eligible for reduced margin (LSERM)

Type: Rules Notice> Technical
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Member Regulation Policy
Bruce Grossman
Senior Information Analyst, Member Regulation Policy

Quarter ended September 30, 2022

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, 2022. The list must be used to identify securities eligible for reduced margin as set out in 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 otherwise determined according to the requirements set out in subsections 5310(1) and 5311(1) of the IIROC Rules.

Microsoft Excel format

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

Secure File Transfer Protocol (“SFTP”)

Dealer Members may also download the current LSERM (Microsoft Excel format) via a SFTP connection to an IIROC server. Dealer Members that report debt transactions to IIROC will automatically have access to the current LSERM in a folder entitled “LSERM” in the Reference Data directory on the server. Other Dealer Members that wish to download the LSERM via SFTP will need to set up an account with IIROC.

This list supersedes the most recently issued LSERM and will be effective on November 25, 2022 (which is fifteen business days following the issuance date of this Notice).