OFFSETS INVOLVING GOVERNMENT DEBT SECURITIES AND RELATED INSTRUMENTS

5612. Government debt securities of same issuer with same maturity band and both maturing in greater than or equal to one year

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    1. Where a Dealer Member or a client:

      1. has a long position in Canada debt securities, United States debt securities, Canada Provincial debt securities or any other debt security described in category (i) or category (ii) of subsection 5210(1), maturing in greater than or equal to one year, and

      2. has a short position in debt securities:

        1. issued or guaranteed by the same issuer (provided that for these purposes each of the provinces of Canada shall be regarded as the same issuer as any other province of Canada),

        2. and in the same currency as the securities referred to in clause 5612(1)(i), 

        3. maturing within the same maturity band as the securities referred to in clause 5612(1)(i), and

        4. with a market value equal to the securities referred to in clause 5612(1)(i),

    2. the two positions may be offset and the minimum margin required for both positions may be computed with respect to the net long or net short position only.

    There is no history log for this rule.

    There is no history log for this rule.