The OSC has published for a 30-day comment period the applications by the Chicago Mercantile Exchange Inc., DTCC Data Repository (U.S.) LLC and Ice Trade Vault, LLC for designation as trade repositories in Ontario.
OSC staff have coordinated with staff of the Autorités des marchés financiers and the Manitoba Securities Commission in reviewing the applications that are also filed in Québec and Manitoba, and will continue to work with them in finalizing the designation.
The publication of these applications is an important step in the OSC’s effort to ensure proper infrastructure will be operational in Ontario to accept market participants on to systems and commence OTC derivatives trade reporting as planned. Clearing agencies and dealers are required under Ontario securities laws to report certain OTC derivatives transactions to a designated trade repository by October 31, 2014, and all other OTC derivatives market participants are required to report by June 30, 2015.
The comment period for the applications is open until August 30, 2014. To learn more about the TR rule, www.osc.gov.on.ca.