Front Matter Page
© 2008 International Monetary Fund
February 2008
IMF Country Report No. 08/60
Canada: Financial Sector Assessment Program—Detailed Assessment of Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systems
This Detailed Assessment of Observance of CPSS/IOSCO Recommendations for Securities Settlement Systems for Canada was prepared by a staff team of the International Monetary Fund as background documentation to the Financial Sector Assessment Program with the member country. It is based on the information available at the time it was completed in January 2008. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Canada or the Executive Board of the IMF.
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Front Matter Page
Financial Sector Assessment Program
Detailed Assessment of Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systemsl
CANADA
January, 2008
International Monetary Fund
Monetary and Capital Markets Department
Contents
Glossary
Tables
1. Detailed Assessment of Canada’s Observance of the CPSS-IOSCO Recommendations for Securities Settlement Systems
2. Summary Observance of CDSX of the CPSS-IOSCO Recommendations for Securities Settlement Systems
3. Recommended Action Plan to Improve Observance of CDSX of the CPSS IOSCO Recommendations for Securities Settlement Systems
Glossary
| ACCESS |
American and Canadian Connection for Efficient Securities Settlement |
| ACV |
Aggregate Collateral Value |
| AMF |
Autorité des marchés financiers |
| ASAP |
Account Services and Payments |
| BCP | |
| BOC |
Bank of Canada |
| BNS |
Batch Net Settlement |
| CAD |
Canadian dollar |
| CBM |
CDS/DTC Cross-Border Movement |
| CCP |
Central Counterparty |
| CDS |
Clearing and Depository Services Inc. |
| CDSX |
Canadian Depository for Securities’ Settlement System |
| CNS |
Continuous Net Settlement |
| CPA |
Canadian Payment Association |
| CPSIPS |
Core Principles for Systemically Important Payment Systems |
| CPSS |
Committee on Payments and Settlements Systems |
| CSA |
Canadian Securities Administrators |
| CSD |
Central Securities Depository |
| CVTS |
Collateral Value and Transfer System |
| DBNA |
Depository Bills and Notes Act |
| DTC |
Depository Trust Company |
| DTCC |
Depository Trust and Clearing Corporation |
| DVP |
Delivery-versus-Payment |
| IDA |
Investment Dealers Association |
| IDD |
Infrastructure Development Division |
| IOSCO |
International Organization of Securities Commissions |
| LVTS |
Large Value Transfer System |
| MTM |
Mark-to-Market |
| NSCC |
National Securities Clearing Corporation |
| NYL |
New York Link |
| OBS |
Overnight Batch Settlement |
| ONB | |
| OSC |
Ontario Securities Commission |
| OSFI |
Office of the Superintendent of Financial Institutions |
| OSTA |
Ontario Securities Transfer Act |
| PCSA |
Payment Clearing and Settlement Act |
| PPSA |
Personal Property Security Act |
| RAC |
Risk Advisory Committee |
| SRO |
Self Regulation Organization |
| STA |
Securities Transfer Act |
| SWIFT |
Society for Worldwide Interbank Financial Telecommunication |
| TFT |
Trade-for-Trade |
| TSX |
Toronto Stock Exchange Inc. |
| UCC |
Uniform Commercial Code |