Securities Law

24-502 - Extension of Transitional Phase-In Period in National Instrument 24-101 Institutional Trade Matching and Settlement [BCI - Rescinded]

Published Date: 2008-04-04
Effective Date: 2008-06-30
Rescinded Date: 2010-07-01
Document(s):

Concurrently Published:

British Columbia Securities Commission

BC Instrument 24-502

The British Columbia Securities Commission having considered that to do so would not be prejudicial to the public interest, orders that the attached BC Instrument 24-502 entitled "Extension of Transitional Phase-in Period in National Instrument 24-101 Institutional Trade Matching and Settlement" is made.

 

April 1, 2008

 

Douglas M. Hyndman
Chair

…………………………………………………………………………………..
(This part is for administrative purposes only and is not part of the Order)

Authority under which Order is made:
Act and sections: Section 187 of the Securities Act
Other (specify):  National Instrument 24-101 Institutional Trade Matching and Settlement


 
 
BC Instrument 24-502

Extension of Transitional Phase-In Period in National Instrument 24-101 Institutional Trade Matching and Settlement

Order under section 187 of the Securities Act

Interpretation
1. Terms defined in National Instrument 24-101 Institutional Trade Matching and Settlement have the same meaning in this Instrument.

Variation of phase-in period
2. Section 10.2 of National Instrument 24-101 Institutional Trade Matching and Settlement is varied:

(a) in subsections (1), (2) and (3)(b), by replacing July 1, 2008 with July 1, 2010, and

(b) by replacing subsection (3)(c) to (e) with the following:

      "(c) "70 percent", for trades executed after June 30, 2010, but before January 1, 2011;

      (d) "80 percent", for trades executed after December 31, 2010, but before July 1, 2011; and

      (e) "90 percent", for trades executed after June 30, 2011, but before January 1, 2012."

Variation of Form 24-101F1
3. Form 24-101F1 is varied by striking out footnotes "*" and "**" and replacing them with the following:

Transition

* For DAP/RAP trades executed during a transitional period after the Instrument comes into force and before January 1, 2012, this percentage will vary depending on when the trade was executed.

** The time set out in Part 3 of the Instrument is 11:59 p.m. on, as the case may be, T or T+1. For DAP/RAP trades executed during a transitional period after the Instrument comes into force and before July 1, 2010, this timeline is being phased in and is 12:00 p.m. (noon) on, as the case may be, T+1 or T+2.

Effective Date
4. This Instrument comes into effect on June 30, 2008.

Expiry Date
5. This Instrument expires on January 1, 2012.