Members of the Canadian Securities Administrators (CSA) today published for comment Proposed National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives and its companion policy (the proposed instrument), which introduces requirements for central counterparty clearing of certain over-the-counter (OTC) derivatives transactions.
Mandatory central counterparty clearing is intended to mitigate counterparty risk in the derivatives market and increase financial stability. In developing the proposed instrument, the CSA has carefully considered public comments received on National Instrument 94-101 Mandatory Central Counterparty Clearing, published in February 2015, as well as comments on CSA Notice 91-303 Proposed Model Provincial Rule on Mandatory Central Counterparty Clearing of Derivatives, and CSA Consultation Paper 91-406 OTC Central Counterparty Clearing from December 2013 and June 2012, respectively.
The proposed instrument establishes:
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Canadian Securities Regulators Seek Comment On Derivatives Rule Relating To Mandatory Central Counterparty Clearing
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