Request for Comment – Proposed Amendments to Swap Counterparty Margin Requirements – Investment Industry Regulatory Organization of Canada (IIROC)

Market Regulation Document Type
IIROC rule review

IIROC is publishing for public comment proposed amendments to Dealer Member Rule subsections 100.2(j) and 100.2(k) and IIROC Rule section 5442 relating to swap counterparty margin requirements (“proposed amendments”). The main purpose of the proposed amendments is to address undue burden on Dealer Member capital by making IIROC Rules pertaining to margin grace period allowances more consistent, and aligning with industry practice. More specifically, the proposed amendments would allow Dealer Members one business day grace period to collect additional collateral to cover any market value deficiency on swap transactions with Acceptable Counterparties and Regulated Entities. A copy of the IIROC Notice including the text of the proposed amendments is also published on our website at The comment period ends on August 17, 2020.