Canadian regulators have published for comment proposed rules dealing with clearing agencies and financial market infrastructure and mandatory central counterparty clearing (CCP) of specified OTC derivatives. This most recent round of rulemaking follows the publication of final rules on trade repositories and derivatives trade data reporting which come into effect on December 31, 2013 in certain Canadian jurisdictions, subject to staggered implementation of reporting obligations over the course of 2014. 

Taken together, these proposals are key building blocks in the regulatory architecture currently being developed by the Canadian Securities Administrators (CSA) Derivatives Committee to establish a comprehensive regulatory framework for the trading of derivatives in Canada as part of Canada’s G-20 commitments.