Now, I know that I have greatly oversimplified matters and have not taken into account a host of other factors in Canada’s development. But I find the correlation between economic progress and openness to be striking. When trade barriers are falling, when people are coming to our shores and when investment is rising, Canadians prosper.
This legislation provides a legal basis and framework for most of the requirements of payment and settlement systems. It also provides clear definitions relating to the process of netting and settlement finality and ensures full and final settlement to participants, with no recourse to roll back or reversal of transactions.