Tuesday April 10 2018
News Source: Global Exchanges
Focus: Derivative Market Segment
Type: General
Country: Canada
On 9th April 2018, the Canadian Derivatives Clearing Corporation (CDCC) announced the implementation of direct clearing for its newly established membership category called Limited Clearing Members (LCMs) which consists of pension funds and crown corporations. From the 9th April 2018 , LCMs are able to clear cash or repos trades directly through CDCC, with access to the full spectrum of value-added features of the centralized model, including capital, margin and collateral efficiencies.
This innovative direct-clearing model was developed in close consultation with a broad group of stakeholders from across Canada’s investment industry, including clearing members, public pension funds, securities regulators, the Bank of Canada and the Investment Industry Association of Canada (IIAC).
This development contributes to the continued evolution of CDCC’s fixed-income central clearing service.
For additional information please click the link above.