CSA/ACVM |
Canadian
Securities Administrators |
Autorités
canadiennes en valeurs mobilières |
Released: May 11, 2003
Regulators Survey Industrys Straight-Through Processing Readiness
Calgary The Canadian Securities Administrators (CSA) are surveying the ability of market participants to use electronic rather than manual processing interfaces in-house as well as with other firms in the industry. Firms are asked to respond to an online survey of their Straight-Through Processing (STP) readiness between May 9 and May 30, 2003.
"As regulators, we have a responsibility to ensure Canadas capital markets are equipped to meet the industrys future needs and to continue to match global competitors achievements," said Stephen Sibold, Chair of the CSA and of the Alberta Securities Commission. "Straight-Through Processing is a crucial requirement of our markets future. It requires all industry players, large and small, to remove the manual and redundant systems and processes from the entire lifecycle of a securities transaction. For that reason, we are probing the industrys readiness with an online survey of STP preparedness."
The objectives of the survey are to:
Industry Initiative
The Canadian Capital Markets Association (CCMA), an organization founded in 2000 by participants in the Canadian financial services industries to identify and recommend ways to meet the challenges and opportunities faced by our capital markets, is promoting STP strategies among market participants. The CCMAs STP milestones show interim goals in 2004, with the final milestone being the achievement of STP by mid-2005.
The CSA is an umbrella organization for the 13 securities regulators of Canadas provinces and territories to coordinate and harmonize regulation of the Canadian capital markets.
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Media relations contacts:
B.C. Securities Commission Andrew Poon 604-899-6880 1-800-373-6393 (B.C. & Alberta only) www.bcsc.bc.ca
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Alberta Securities Commission Joni Delaurier 403-297-4481 www.albertasecurities.com |
Manitoba Securities Commission Ainsley Cunningham 204-945-4733 1-800-655-5244 (Manitoba only) www.msc.gov.mb.ca |
Ontario Securities Commission Eric Pelletier 416-595-8913 1-877-785-1555 (toll free in Canada) www.osc.gov.on.ca
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Commission des valeurs mobilières du Québec Barbara Timmins 514-940-2176 1-800-361-5072 (Québec only) www.cvmq.com |
N.B. Securities Administration Branch Christina Taylor 506-658-3060 1-866-933-2222 (New Brunswick only) www.investor-info.ca
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Nova Scotia Securities Commission Nick Pittas 902-424-7768 www.gov.ns.ca/nssc |
Securities Commission of Newfoundland and Labrador Susan W. Powell 709-729-4875 www.gov.nf.ca/gsl/cca/s
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Registrar of Securities Department of Justice/Government of the Northwest Territories Tony Wong 867-873-7490 tony_wong@gov.nt.ca |