Notice of Commission Approval - IDA Amendments to Regulations 100.4C and 100.4K -- Offset Positions in Canadian Debt Securities and Related Futures Contracts

Investment Dealers Association rule review
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THE INVESTMENT DEALERS ASSOCIATION

AMENDMENTS TO REGULATIONS 100.4C AND 100.4K -- OFFSET POSITIONS IN

CANADIAN DEBT SECURITIES AND RELATED FUTURES CONTRACTS

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission approved the amendments to IDA Regulations 100.4C and 100.4K -- Offset Positions in Canadian Debt Securities and Related Futures Contracts. In addition, the British Columbia Securities Commission did not object, and the Alberta Securities Commission and the Autorité des marchés financiers approved the proposed amendments. Their purpose is to recognize for regulatory purposes the market risk reduction of Member firm offset positions in debt securities of different issuers and of different maturity bands by expanding the number of permissible offsets. The objective of the accompanying amendments to Regulation 100.4K is to keep the offsets available to Government of Canada bond futures positions consistent with those available to Government of Canada bonds. A copy and description of the amendments were published on February 11, 2005, at (2005) 28 OSCB 1738. No comments were received.