Regulatory Alerts2024-05-27
Regulation 24-101 Respecting Institutional Trade Matching and Settlement
Issued under the Securities Act, this regulation establishes mandatory trade matching and settlement requirements for registered dealers, advisers, clearing agencies, and matching service utilities. It mandates that DAP/RAP trades be matched no later than 3:59 Eastern Time on T+1 and requires pre-trade documentation agreements or statements between institutional investors and their service providers. The rule further imposes ongoing reporting, operational, and system resilience obligations on clearing agencies and matching service utilities to ensure accurate and timely institutional trade processing.
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