Friday November 6 2015
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Canada
Link: http://www.osc.gov.on.ca/en/NewsEvents_nr_20151105_comment-amendments-trade-respositories.htm
The Ontario Securities Commission (OSC) has published amendments to OSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (the TR Rule) and its companion policy for a 90-day comment period.
The proposed amendments would eliminate reporting obligations under the TR Rule for derivatives transactions between end-user local counterparties that are affiliated with each other and alleviate certain reporting obligations for end-user local counterparties engaging in derivatives transactions with foreign affiliates where reporting is done in compliance with equivalent trade reporting laws.
The proposed amendments would also modify existing legal entity identifier requirements in order to better promote data harmonization and introduce transparency to the Ontario derivatives market through public dissemination of transaction level data.
The amendments would increase transparency and efficiency in the over-the-counter derivatives market while aiming to preserve the anonymity of counterparties, according to the OSC.
The OSC worked with the CSA’s Over-the-Counter Derivatives Committee on the amendments, and securities regulators in Quebec and Manitoba are publishing similar amendments concurrently.
The TR Rule became effective on December 31, 2013. The most recent amendments to the TR Rule became effective on April 30, 2015.
Click on the link above for further details.