CIBC Mellon Global Securities Services Co. has launched a new monthly trade match report card to help investment managers comply with new Canadian institutional trade matching guidelines contained within National Instrument (NI) 24-101.

Beginning in February 2008, NI 24-101 requires investment managers to report quarterly trade matching performance to the Canadian Securities Administrators if they fail to achieve prescribed guidelines within the instrument. Initially regulators set an 80% trade matching rate by noon on T+1 over a calendar quarter. The guidelines are designed to lower settlement risks in the Canadian marketplace by encouraging greater trade matching rates on trade date at Canadian Depository for Securities (CDS).

CIBC Mellon’s report card summarizes monthly trade match performance for all CDS buy and sale trades. The report card provides trade match rates based on volume and dollar value, and an analysis of match rates against performance targets in various asset classes.

The information contained in the trade match report card tells the investment manager how well they are doing against the prescribed guidelines. It is an early warning system that they can use to pinpoint problems and take corrective actions.

“We are pleased to be helping investment managers meet their National Instrument (NI) 24-101 obligations in an efficient manner,” said Thomas C. MacMillan, CIBC Mellon president and chief executive officer. “We believe the information provided in our monthly trade match report card will help investment managers keep pace with market changes and address compliance requirements.”

In addition to the monthly trade match report card, investment managers continue to benefit from real-time trade status information available through Workbench, CIBC Mellon’s innovative web-based information delivery portal.

CIBC Mellon is 50-50 jointly owned by Canadian Imperial Bank of Commerce and The Bank of New York Mellon Corp.