Monday January 23 2017
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Canada
Link: http://www.osc.gov.on.ca/en/NewsEvents_nr_20170119_csa-adopt-rules.htm
On 19th January 2017, the Canadian Securities Administrators (CSA) announced two new national instruments affecting over-the-counter (OTC) derivatives trading in Canada. The national instruments are part of Canada’s ongoing implementation of commitments to reform the global OTC derivatives markets.
National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives requires certain counterparties to clear certain standardized OTC derivatives through a central counterparty clearing agency, subject to exemptions set out in the instrument.
National Instrument 94-102 Derivatives: Customer Clearing and Protection of Customer Collateral and Positions is designed to protect a local customer’s positions and collateral when clearing OTC derivatives and to improve clearing agencies’ resilience to default by a clearing intermediary. The instrument includes requirements related to the segregation and portability of customer collateral and positions as well as detailed record-keeping, reporting and disclosure requirements.
Click on the link above for further details.