The Ontario Securities Commission yesterday published the applications submitted by the Chicago Mercantile Exchange, DTCC Data Repository and ICE Trade Vault to become designated as trade repositories in the province, as well as draft orders for each applicant. The submissions each set out how the respective applicant will comply with OSC rules.
As we've previously discussed, under the recently adopted OSC Rule 91-507, over-the-counter derivatives transactions involving Ontario counterparties must be reported to a designated trade repository. The first phase of reporting obligations become effective on October 31. The OSC is accepting comments on the applications and draft orders until August 30.
Meanwhile, Quebec's Autorité des marchés financiers published applications filed by DTCC Data Repository and ICE Trade Vault for recognition as trade repositories in Quebec under Regulation 91-507. Consultation on the Quebec submissions ends on September 2.
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