Thursday December 19 2013
News Source: Global Exchanges
Focus: Trading Rules
Type: General
Country: Canada
Link: http://www.osc.gov.on.ca/en/NewsEvents_nr_20131218_osc-rfc-clearing-agency-requirements.htm
The Ontario Securities Commission (OSC) have published for comment local Rule 24-503 Clearing Agency Requirements, which proposes adopting global standards for Ontario financial market Infrastructure (FMIs). FIs include clearing agencies severing both securities and derivatives markets under the Ontario Securities Act. The Rule sets out ongoing requirements for recognized clearing agencies in Ontario and formalizes a framework for the OSC`s recognition or exemption of all clearing agencies seeking to carry on business in the province. This proposed rule would replace OSC Staff Notice 24-702 Regulatory Approach to Recognition and Exemption from Recognition of Clearing Agencies.
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