Canada’s securities regulators are proposing to delay the imposition of certain institutional trade matching and settlement requirements.

The Canadian Securities Administrators has published proposed amendments to its rules that would delay the requirement to match DAP/RAP trades (Delivery against Payment/Receive against Payment) on the trade date from July 1, 2010 to July 1, 2015. The CSA is also proposing to push out the deadline for matching trades by T+1 for two years.

Initially, the CSA was seeking to impose trade date settlement by July 1, 2008. It delayed that deadline until 2010 in response to industry concerns.

Now it says, “Any benefits from moving to matching on T that were originally contemplated, such as reduction in operating costs and risks, may not be gained in a cost-effective manner without an extension of the transitional phase-in period.”

http://www.oscbulletin.carswell.com/bb/osc/bb/3244/on3244.htm#6_1_1