Monday December 23 2013
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: Canada
Link: http://www.securities-administrators.ca/aboutcsa.aspx?id=1204
Members of the Canadian Securities Administrators (CSA) have published for comment the CSA Staff Notice 91-303 – Proposed Model Provincial Rule on Mandatory Central Counterparty Clearing of Derivatives (the “Proposed Model Rule”).
The Proposed Model Rule describes requirements for central counterparty clearing of over-the-counter (OTC) derivatives transactions with the intention of improving transparency in the derivatives market and enhancing the overall mitigation of risks. It was developed following comments received on CSA Consultation Paper 91-406 OTC Central Counterparty Clearing, published in June 2012.
Following the present consultation, the CSA will review all comments received and make appropriate amendments to the Proposed Model Rule and the follow the process ensuring that specific rules will be implemented in each province or territory.
Click on above link for further details.