Securities regulators in Alberta, British Columbia, New Brunswick, Nova Scotia and Saskatchewan (the approving jurisdictions) on Tuesday announced the approval of recognition orders for three derivatives trade repositories: the Chicago Mercantile Exchange Inc., DTCC Data Repository (U.S.) LLC and ICE Trade Vault, LLC. Securities regulators in Newfoundland and Labrador, Nunavut, Northwest Territories, Prince Edward Island and Yukon expect to approve comparable recognition orders for some or all of these trade repositories before trade reporting requirements begin in their jurisdictions.
Under Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reporting, clearing agencies and derivatives dealers will be required to report certain over-the-counter (OTC) derivatives beginning July 29, 2016. Reporting requirements begin November 1, 2016 for all other reporting counterparties that are required to report OTC derivatives.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets. – CNW