CSA today published for comment CSA Consultation Paper 92-401 Derivatives Trading Facilities. The paper proposes a framework for regulating facilities that bring together multiple buyers and multiple sellers of OTC derivatives. It also proposes that OTC derivatives that meet certain criteria may be required to trade exclusively on such regulated facilities.
“The goal of this proposed framework is to develop rules for OTC derivatives trading in the Canadian market that conform to international commitments,” said Bill Rice, chair of the CSA and chair and CEO of the Alberta Securities Commission. “In addition to developing harmonized policies and rules for Canada, the proposed framework will align with international practices to the extent appropriate.”
The comment period is open until March 30, 2015.