May 27, 2024 CSA

Toronto – The Canadian Securities Administrators (CSA) today announced that rule amendments supporting the move to a shorter settlement cycle for equity and long-term debt market trades came into force across Canada.

The amendments to National Instrument 24-101 (pdf - 229 KB)This link will open in a new windowUpdated on December 14, 2023 Institutional Trade Matching and Settlement align with the industry’s move to reduce the time by which institutional trades must be matched from two days after the date of a trade (T+2) to one day (T+1). This is consistent with the associated regulatory rule changes in the United States. The transition to T+1 in the United States will take place May 28, 2024, one day later than in Canada.

National Instrument 24-101 provides a framework for ensuring efficient and timely settlement of the processing of institutional trades (equity and debt) by registered dealers and advisers (Registered Firms). It has a number of requirements including that Registered Firms are required to establish, maintain, and enforce policies and procedures designed to achieve the matching threshold of institutional trades.

The CSA, the council of securities regulators of Canada’s provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.

For media inquiries, please contact:

Ilana Kelemen
Canadian Securities Administrators
[email protected]

Debra Chan
Ontario Securities Commission
[email protected]

For investor inquiries, please contact your local securities regulator This link will open in a new window.