1. National Instrument 24-101 Opportunities and Challenges Buy-Side Firms Jane Depraitere, LL.B.,CGA, MBA Director Operations Mawer Investment Management Ltd.

2. NI 24-101 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. NI 24-101 3 Policies and Procedures Accelerate processing from T+1 to T Determine delays in processing Enhanced electronic transmission

4. NI 24-101 4 Acknowledgement Written acknowledgement  Trade matching statement  Alternatively a trade matching agreement

5. NI 24-101 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. NI 24-101 6 Performance Measurement Trade-matching performance measurement  Data sources  Accuracy  Consistency Development of new reporting Analysis of results

7. NI 24-101 7 Mutual Dependency Required by all trade-related parties  Broker/Dealers  Custodians  Investment Managers Standard Data Elements

8. NI 24-101 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. NI 24-101 9 Conclusions View this change positively Use this opportunity to make your trading operation more efficient Use this opportunity to bring more STP into your operations to enhance overall efficiency

10. National Instrument 24-101 Opportunities and Challenges Buy-Side Firms Jane Depraitere, LL.B.,CGA, MBA Director Operations Mawer Investment Management Ltd.