MARKET VALUATION AGING MATRIX BY IIAC ASSET CLASS SCHEMA

Security Type / Subtype (Note: Per IIAC
Industry Asset Classification Schema) / Primary Pricing Source / Secondary Pricing Source / Pricing Method / Pricing Frequency / Max. days price used / Action if price stale / After 365 days stale
Cash and Equivalents / Cash (any currency) / Face value
Cashable (liquid) GICs / Face value
High-interest savings accounts (HISAs) (fully or partially liquid) / Service provider/data vendor / Manual/ traders (Note: ABS problematic as systems do not give pool factors) / IIROC Rule subpara. 200.1(c)(i)(A) or (B) / Daily/
monthly / 35 / Price goes to ND / Price goes to $0
Money market funds
Short-term notes (includes ABCP, BAs, CDs, CP, T-bills, savings bonds)
Other cash and cash-equivalent products (temporary for new products)
Balanced mandates / Balanced funds / Service provider/data vendor / Morningstar, Fundex, FundSERV, asset manager
(for funds below) / IIROC Rule 200.1(B) / Daily or periodic; (Note 1) / 35 (daily/ monthly; 95 if quarterly) / Price goes to ND / Price goes to $0
Fixed Income / Corporate bonds / Service provider/data vendor / Manual/ traders / Subpara. 200.1(c)(i)(A), (C), (E), (F), (G) or (ii) or (iii)
(see Note 2) / Daily / 35 (daily/ monthly; 95 if quarterly; note different approach for illiquid GICs and some other products – duration to maturity) / Price goes to ND / Price goes to $0
Government (all) bonds with term to maturity from issue date > 1 year
Convertible bonds (until exercised)
Fixed-income-focused investment funds (e.g., mutual funds, ETFs, closed-end funds (CEFs), pooled/common trust funds, index-replicating vehicles (IRVs))
Asset-backed securities (MBSs and other products that with a pool factor from iterative/ ongoing return of principal)
Non-cashable (illiquid) GICs
Strips, coupons, residuals
Other fixed-income products (temporary )
Preferred Shares / Preferred shares / Service provider/data vendor / Manual/traders/ market research / Subpara. 200.1(c)(i)(A) (Note 2) / Daily / 35 / Price goes to ND / Price goes to $0
Convertible pref. shares (until exercise)
Listed Equities / Service provider/data vendor / Manual/ traders / IIROC Rule subpara. 200.1(c)(i)(A) (see Note 2) / Daily / 35 / Price goes to ND / Price goes to $0
Other Equities (i.e., not traded on exchange, but has Global identifier, e.g., CUSIP, ISIN, SEDOL) / Common shares / Service provider/data vendor / Manual/ traders/term sheet/price link/sub-agreements/ prospectus/ offering memorandum/ duration for rights / IIROC Rule subpara. 200.1(c)(i)(C) (see Note 2) / Daily / 365 / Price goes to ND / Price goes to $0
Equity funds (includes equity mutual funds, ETFs, CEFs, IRVs)
Rights
Warrants
Units (bundled stock and warrants, etc.)
Trust units (includes units structured under trust deed but excludes REITs)
Limited partnership units (LPUs)
Installment receipt
Subscription receipt
Real estate investment trust (REIT)
Flow-through shares
Other equities (temp. for new products)
Private securities (i.e., no Global identifier) / Private non-publicly traded shares; may not have secondary market; private placements, private equity funds, CCPCs/qualified small business corps.) / Service provider/data vendor / Manual (also see above) / IIROC Rule subpara200.1(c)(ii) or (iii) (see Note 2) / Daily / 365 / Price goes to ND / Price goes to $0
Alternative investments / Physical commodities / Service provider/data vendor / Manual (also see above); structured products remain a problem as none of the traders apply a premium to the price / IIROC Rule subpara. 200.1(c)(i)(A), (B), (C), (D) (see Note 2); 200.1(c)(ii) or 200.1(c)(iii) / Daily / 35 / Price goes to ND / Price goes to $0
Segregated funds
Leveraged investments (split capital shares, leveraged ETFs and Inverse ETFs)
Derivatives (forwards, futures, options, swaps)
Hedge funds
Structured products (includes ETNs, principal-at-risk notes (PRNs), PPNs)
Other alternative investments (temporary) new products)
Other / Insert others appropriate to firm, e.g.:
  • Restricted securities (linked to freely tradable; not linked to freely tradable)
  • Freely tradable with sweeteners (e.g., stapled)
  • Securities with class restrictions
/ Service provider/data vendor; if linked to freely tradable, then link to it / Issue price, third party evaluation, etc. / Varies / Monthly/ Quarterly (See Note 2) / 120 days for restricted linked to freely tradable/
otherwise 365 / Price goes to $0 / Price goes to $0

Note 1:Denotes securities that are only valued monthly or quarterly

Note 2:If price not available on particular day, or month- or quarter-end, previous recent price may be used, or a point between bid and ask that is reasonably representative of bid and ask, or a point at or above bid or at or below ask if ask or bid, respectively, are not available