IIAC Releases Canadian Fixed Income Calculation Conventions

    TORONTO, Nov. 19 /CNW/ - The Investment Industry Association of Canada
(IIAC) today released Canadian Conventions in Fixed Income Markets. Setting
out the practices and formulas currently used for the calculation of prices,
interest payments and yields on securities traded in the Canadian fixed income
markets, the publication is a single comprehensive reference of conventions
commonly used for bond valuations in Canada. It is available for free on
    Ian Russell, IIAC President and CEO, said: "By documenting current
conventions and publishing them in one readily accessible source, we are
promoting the use of uniform practices among Canadian market participants and
providing a collaborative framework within which to evolve Canadian
conventions to address ongoing developments in the fixed income market. This
further enhances the efficiency and attractiveness of Canadian debt markets to
investors and issuers."
    Today's release of Canada's fixed-income conventions is the culmination
of extensive work by the IIAC's Bond Conventions Working Group. The
publication reflects findings from the group's research and is accepted by the
IIAC's Debt Markets Committee as representing the current conventions of
Canada's primary market dealers. "We are extremely grateful to our group of
fixed-income professionals that devoted so much time and effort to producing
this valuable resource," said Russell.
    "Canada is witnessing increased interest in its debt markets from foreign
participants. By providing greater transparency on market practices, the
conventions document will benefit new entrants to the market as well as
existing participants. This initiative also brings us in-line with what has
been done in other jurisdictions." said Kenneth Kelly, Executive Director at
CIBC World Markets and chairperson of the IIAC Bond Conventions Working Group.

    The Investment Industry Association of Canada (IIAC), formerly the
industry association arm of the Investment Dealers Association of Canada
(IDA), advances the position of the Canadian investment industry on regulatory
and public policy issues. As the professional association for the industry,
the Investment Industry Association has a mandate to promote efficient, fair
and competitive capital markets for Canada while helping its member firms
across the country succeed in the industry.

For further information:

For further information: Katie O'Dell, Public Affairs Consultant, (416)
687-5478, kodell@iiac.ca

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Investment Industry Association of Canada (IIAC)

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