Notice of Request for Comment – Proposed Material Amendments to UMIR, Dealer Member Rules and Form 1 to Facilitate the Investment Industry’s Move to T+2 Settlement – Investment Industry Regulatory Organization of Canada (IIROC)

Market Regulation Document Type
IIROC rule review

IIROC is publishing for public comment amendments to IIROC’s Universal Market Integrity Rules (UMIR), Dealer Member Rules (DMR) and Form 1 (collectively, the Amendments) regarding the investment industry’s move from a trade date plus three business days (T+3) settlement cycle to a trade date plus two business days (T+2) settlement cycle. The primary objective of the Amendments is to ensure that IIROC’s requirements support the investment industry’s move to T+2 settlement at the same time as the U.S., which is scheduled for September 5, 2017. The move to a T+2 settlement cycle will align Canada with the U.S. capital markets and other major international capital markets that have already moved to a T+2 settlement cycle. A copy of the IIROC Notice including the amended documents was also published on our website at The comment period ends on October 26, 2016.