The Ontario Securities Commission reports that it has approved amendments filed by CDS Clearing and Depository Services Inc. to its procedures relating to Maximum Debt Trade Amount.

The amendments provide that trades in debt securities with a par value greater than $50 million be split into $50 million or smaller increments. This edit will apply to, but not be limited to, all Government of Canada bonds, Government of Canada T-Bills, Canada Housing Trust Securities, and all provincial bonds and T-Bills.

The OSC indicated that the purpose of the amendments is to reduce market inefficiency, and the potential for financial loss and/or liquidity issues.

A notice and request for comments with respect to the proposed amendments was published on March 9 in the commission’s bulletin. CDS received three written submissions during the public comment period.