Notice of Commission Approval - Amendments to IDA Regulation 100.4C - Captial and Margin Requirements for an Offset Involving Canadian Bank Acceptances and Three-Month Canadian Bank Acceptance Futures Contract

AMENDMENTS TO IDA REGULATION 100.4C -
CAPITAL AND MARGIN REQUIREMENTS FOR
AN OFFSET INVOLVING CANADIAN BANK ACCEPTANCES
AND THREE-MONTH CANADIAN BANK ACCEPTANCE
FUTURES CONTRACT

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission approved amendments to IDA Regulation 100.4C regarding capital and margin requirements for an offset involving bank acceptances issued by Canadian chartered banks and the three-month Canadian bank acceptance futures contract. In addition, the Saskatchewan Securities Commission approved, the Alberta Securities Commission did not disapprove and the British Columbia Securities Commission did not object to these amendments. The purpose of the amendments is to allow an offset of a long (or short) Canadian chartered bank acceptance position and a short (or long) three-month Canadian bank acceptance futures position. The margin requirement in respect of both positions would be the greater of the margin required on the long and the short position. A copy and description of these amendments were published on April 19, 2002 at (2002) 25 OSCB 2323. No comments were received.