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Key Components

National Instrument 24-101 Opportunities and Challenges Buy-Side Firms Heidi Johnston Vice-President, Trade Administration & Fund Accounting Phillips, Hager & North Investment Management Ltd. Key Components. Focus on policies and procedures Written acknowledgement of capabilities

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Key Components

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  1. National Instrument 24-101Opportunities and Challenges Buy-Side FirmsHeidi JohnstonVice-President, Trade Administration & Fund AccountingPhillips, Hager & North Investment Management Ltd.

  2. Key Components • Focus on policies and procedures • Written acknowledgement of capabilities • Trade matching statement/agreement • Phased implementation • Transitional performance targets • Performance measurement • Exception reporting • Analysis and plans • Mutual Dependency among trade-related parties

  3. Policies and Procedures • Accelerate processing from T+1 to T • Determine delays in processing • Enhanced electronic transmission

  4. Acknowledgement • Written acknowledgement • Trade matching statement • Alternatively a trade matching agreement

  5. Transitional Targets • The key to accelerating trade matching is accelerating the transmission of trade allocation information • Acceleration of trade detail allocations to the custodian and broker involves: • Data availability and integrity • Frequency and timing of trade transmission • Late day systems, operations and information availability

  6. Performance Measurement • Trade-matching performance measurement • Data sources • Accuracy • Consistency • Development of new reporting • Analysis of results

  7. Mutual Dependency • Required by all trade-related parties • Broker/Dealers • Custodians • Investment Managers • Standard Data Elements

  8. Next Steps • Assess daily internal processes for trade transmission (front & back office) • Review current timelines • Evaluate the level of automation required • Analyze current applications in place • Collaborate with other trade-related parties • Identify potential changes • Data availability • Access options available • Develop and implement plans

  9. National Instrument 24-101Solutions and Remaining Challenges Faced byBuy-Side FirmsHeidi JohnstonVice-President, Trade Administration & Fund AccountingPhillips, Hager & North Investment Management Ltd.

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