Notice of Commission Approval - Amendments to IDA Regulation 100 - Positions in and Offsets Involving Exchange Traded Derivatives

AMENDMENTS TO IDA REGULATION 100 - POSITIONS
IN AND OFFSETS INVOLVING EXCHANGE TRADED DERIVATIVES

NOTICE OF COMMISSION APPROVAL

The Ontario Securities Commission and the Alberta Securities Commission approved amendments to IDA Regulation 100 regarding positions in and offsets involving exchange traded derivatives. In addition, the British Columbia Securities Commission did not object to the amendments. The proposal establishes capital and margin requirements that are more reflective of the risks of the offsetting strategies, and improves organization of the current rules. A copy and description of these amendments were published on April 25, 2003 at (2003) 26 OSCB 3272. No comments were received. Since the publication of the proposal, the IDA resubmitted the amendments to correct a minor drafting error. Specifically, the phrase "long qualifying basket of index securities" was replaced with "long index participation units" at the beginning of the fourth bullet point in Regulation 100.9(h)(iii)(E).