The Canadian Securities Administrators (CSA) plans to propose a new debt market reporting framework for public comment in the first quarter of 2018, according to a notice published on Thursday.
The CSA notice indicates that the reporting regime for government debt will include a proposal that an information processor (IP) be designated for government debt securities, along with changes to the trading rules in this area.
The original version of the trading rules, which were adopted back in 2001, included requirements for marketplaces and inter-dealer bond brokers to report order and trade information to an IP. However, the CSA has repeatedly deferred implementation of those requirements.
In its notice, the CSA says that the current exemption from the reporting requirements is set to expire on Jan. 1, 2018, and it is not planning to extend the exemption.
However, since there is not currently a designated IP for government debt, the expiry of the exemption “will not have any immediate effect,” the notice says. Instead, those requirements will become operational once the proposed framework is developed and adopted.