Post-Trade Matching (PTM) Advisory Council
The Board of Directors of the Canadian Capital Markets Association (CCMA) has approved a CCMA initiative to support the investment industry in working with the TMX, including CDS and CDCC, to modernize its clearing and settlement systems, as well as its entitlement and corporate action systems. The CCMA is a federally incorporated, not-for-profit organization, launched to identify, analyze and recommend ways to meet the challenges and opportunities facing Canadian and international capital markets.
Due to its mandate to communicate, educate and help co-ordinate the investment industry on matters spanning multiple industry segments, the CCMA was chosen to support this important TMX project. These systems are critical to Canadian capital markets because CDS is the hub connecting investment dealers, custodians, exchanges and other parts of Canada’s clearing and settlement infrastructure and, indirectly, the buyside, including pension plans, fund managers and others. To help ensure a smooth transition to modernized systems, the CCMA is establishing a Post-Trade Modernization Advisory Council.
The Advisory Council will be chaired by the CCMA’s Executive Director (Keith Evans). Participation on the CCMA’s TSX/CDS Post-Trade Modernization Advisory Council is open to all CDS participant organizations, their service bureaus, and their vendors. Industry associations, SROs, buy-side firms, consultants, as well as regulators are also welcome to attend as ‘Observers’.
The Advisory Council reports to the CCMA Board of Directors via the Executive Director/Chair of the PTM-AC.
The terms of reference for the Post-Trade Modernization Advisory Council is to review and provide input to the TMX Post-Trade Modernization Oversight Committee, as well as the consultative work streams, overseeing the Post-Trade Modernization Project. Specifically, Council members will:
- review all material documents related to the project
- identify issues arising in any area of the project that will have a material impact on transaction processing
- assess/propose solution(s) to the above
- gain industry agreement where required
- identify rule changes, if any
- identify procedural changes, if any
- identify vendor changes as a result of changes identified above
- comment on timelines
- coordinate activities to complete tasks the Council identifies
- communicate with, and educate the broader investment community as required.
Meetings will be called by the Chair. Notices calling meetings and agendas will be sent to all PTM-AC members/observers. Meetings will be minuted and attendance recorded. Meeting minutes will be tabled with the PTM-AC for approval. There is no set minimum quorum requirement for meetings. Minutes and decisions of the PTM-AC will be posted on the CCMA website.
Chair – Keith Evans
2019-January-9 – CNS Hold and Buy-In Extension Requirements