Vol. 67, No. 9 – B.C. Reg. 109/2024

Volume 67, No. 9
109/2024

The British Columbia Gazette, Part II
May 21, 2024

B.C. Reg. 109/2024, deposited May 17, 2024, under the SECURITIES ACT [section 184]. Rule of the British Columbia Securities Commission, dated May 16, 2024.

The British Columbia Securities Commission orders that, effective May 27, 2024, National Instrument 24‑101 Institutional Trade Matching and Settlement, B.C. Reg. 64/2007, is amended as set out in the attached Schedule.

— B. LEONG, British Columbia Securities Commission.

Schedule

1 National Instrument 24‑101 Institutional Trade Matching and Settlement, B.C. Reg. 64/2007, is amended as set out in this Schedule.

2 Section 1.1 is amended by repealing the definition of "T+2".

3 Section 3.1 (1) is amended by replacing "12 p.m. (noon) Eastern Time on T+1" with "3:59 a.m. Eastern Time on T+1".

4 Section 3.3 (1) is amended by replacing "12 p.m. (noon) Eastern Time on T+1" with "3:59 a.m. Eastern Time on T+1".

5 Section 4.1 is repealed.

6 Section 6.5 (a) (iv) is amended by adding "adequacy of cyber resilience and the" before "vulnerability of those systems and data centre computer operations".

7 Form 24‑101F1 Registered Firm Exception Report of DAP/RAP Trade Reporting and Matching is repealed.

8 Form 24‑101F2 Clearing Agency Quarterly Operations Report of Institutional Trade Reporting and Matching is amended by

(a) replacing "MMM" with "MM", and

(b) repealing Tables 1 and 2 and substituting the following:

Table 1 – Equity trades:

	Entered into matching service utility by dealer‑users/subscribers				Matched in matching service utility by other users/subscribers
	# of Trades	% Industry	$ Value of Trades	% Industry	# of Trades	% Industry	$ Value of Trades	% Industry
T – 12:00 p.m.
T – 4:00 p.m.
T – 7:30 p.m.
T + 1 – 3:59 a.m.
T + 1 – 12:00 p.m.
T + 1 – 4:00 p.m.
T + 1 – 11:59 p.m.
> T + 1
Total

Table 2 – Debt trades:

	Entered into matching service utility by dealer‑users/subscribers				Matched in matching service utility by other users/subscribers
	# of Trades	% Industry	$ Value of Trades	% Industry	# of Trades	% Industry	$ Value of Trades	% Industry
T – 12:00 p.m.
T – 4:00 p.m.
T – 7:30 p.m.
T + 1 – 3:59 a.m.
T + 1 – 12:00 p.m.
T + 1 – 4:00 p.m.
T + 1 – 11:59 p.m.
> T + 1
Total

9 Form 24‑101F3 Matching Service Utility Notice of Operations is amended

(a) by replacing "MMM" with "MM" wherever it occurs, and

(b) in item 6 under the heading Exhibit N – Material systems failures by deleting "during normal business hours".

10 Form 24‑101F4 Matching Service Utility Notice of Cessation of Operations is amended by replacing "MMM" with "MM".

11 Form 24‑101F5 Matching Service Utility Quarterly Operations Report of Institutional Trade Reporting and Matching is amended by

(a) replacing "MMM" with "MM", and

(b) repealing Tables 1 and 2 and substituting the following:

Table 1 – Equity trades:

	Entered into matching service utility by dealer‑users/subscribers				Matched in matching service utility by other users/subscribers
	# of Trades	% Industry	$ Value of Trades	% Industry	# of Trades	% Industry	$ Value of Trades	% Industry
T – 12:00 p.m.
T – 4:00 p.m.
T – 7:30 p.m.
T + 1 – 3:59 a.m.
T + 1 – 12:00 p.m.
T + 1 – 4:00 p.m.
T + 1 – 11:59 p.m.
> T + 1
Total

Table 2 – Debt trades:

	Entered into matching service utility by dealer‑users/subscribers				Matched in matching service utility by other users/subscribers
	# of Trades	% Industry	$ Value of Trades	% Industry	# of Trades	% Industry	$ Value of Trades	% Industry
T – 12:00 p.m.
T – 4:00 p.m.
T – 7:30 p.m.
T + 1 – 3:59 a.m.
T + 1 – 12:00 p.m.
T + 1 – 4:00 p.m.
T + 1 – 11:59 p.m.
> T + 1
Total

Transition

Clearing agency’s operations report – former
forms may apply for first quarter ending after in force date

12 (1) For the purposes of section 5.1 of National Instrument 24‑101 Institutional Trade Matching and Settlement, a clearing agency is not required to deliver Form 24‑101F2 Clearing Agency Quarterly Operations Report of Institutional Trade Reporting and Matching as amended by this Instrument if

(a) it delivers Form 24‑101F2 Clearing Agency Quarterly Operations Report of Institutional Trade Reporting and Matching as it was in force on May 26, 2024, and

(b) the delivery is in respect of the calendar quarter that ends June 30, 2024.

(2) In Saskatchewan, subsection (1) does not apply if the Instrument comes into force in Saskatchewan on or after July 1, 2024.

Matching service utility’s operations report – former
forms may apply for first quarter ending after in force date

13 (1) For the purposes of subsection 6.4 (1) of National Instrument 24‑101 Institutional Trade Matching and Settlement, a matching service utility is not required to deliver Form 24‑101F5 Matching Service Utility Quarterly Operations Report of Institutional Trade Reporting and Matching as amended by this Instrument if

(a) it delivers Form 24‑101F5 Matching Service Utility Quarterly Operations Report of Institutional Trade Reporting and Matching as it was in force on May 26, 2024, and

(b) the delivery is in respect of the calendar quarter that ends June 30, 2024.

(2) In Saskatchewan, subsection (1) does not apply if the Instrument comes into force in Saskatchewan on or after July 1, 2024.

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