DTCC Launches Canadian Repository

The GTR has been authorized by securities regulators in Ontario, Manitoba and Quebec, given that Canada does not have a single national regulator for its capital markets. It is the seventh such entity established by the DTCC in response to global reform of how derivatives are traded and reported. Canada's rules have adopted a phased approach, with full compliance for buy-side firms expected by summer next year.

"We have expanded our trade reporting services to Canada as part of our ongoing efforts to enhance transparency and to help mitigate systemic risk in the global derivatives market," said Marisol Collazo, managing director and CEO at DTCC Data Repository (US). "We have longstanding, established relationships with Canadian banks - which play an important role in facilitating derivatives trading globally ─ and are working in partnership with them and the regulatory authorities to ensure that phased reporting ─ the implementation of which is expected to help them gain a more holistic view of the marketplace ─ progresses smoothly."