Depository Trust Clearing Corporation is now entering the Canadian market.
The U.S-based clearinghouse now is officially designated as an authorized trade repository for derivatives for the Canadian provinces of Ontario, Quebec and Manitoba by the Manitoba Securities Commission, the Autorite des marches financiers , and the Ontario Securities Commission (OSC).
Canadian banks play a big role in facilitating trading in the global derivatives marketplace, and the expectation is that the implementation of the rules will have a significant impact in increasing the transparency in the derivatives markets. By being a trade repository in the Great North’s largest trading markets and centers, DTCC wants to assist in bringing more transparency to the market.
Canadian regulators have been working with the major trading houses, namely the country’s leading banks, to meet new compliance reporting requirements that go into effect October 31.
