Trade Match Statement

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Under Canadian securities regulation, institutional investors such as Vestcor are required to provide their broker/dealers and securities custodians with certain details to facilitate the settlement of a security trade. In particular, an institutional investor must provide details with respect to the underlying client accounts managed by it, and must instruct the custodian to release funds and/or securities to the clearing agency. The dealer, in turn, must issue a customer trade confirmation containing required information pertaining to the trade.

The Canadian Securities Administrators have issued National Instrument 24-101 to mandate registrants including dealers to take all necessary steps to match a trade as soon as practicable after the trade is executed and in any event, currently no later than noon on the business day following the day on which the trade was executed. Dealers are required to enter into either a written trade-matching compliance agreement or obtain signed trade-matching statements from their institutional clients before they can execute trades on their behalf.

Vestcor has opted to issue a signed Trade Matching Statement to for our broker/dealers.

Vestcor Trade Matching