The Canadian Derivatives Clearing Corporation (CDCC) today confirmed that it has requested that its Standard and Poor's (S&P) AA rating be withdrawn. Earlier today, S&P announced that it was affirming CDCC's corporate rating and withdrawing the rating at CDCC's request, effective December 31, 2012.
CDCC remains committed to adhering to best practices for financial markets infrastructure, including meeting or exceeding all operational and risk management practices.
CDCC is the issuer, clearinghouse and guarantor of exchange traded derivatives in Canada and exclusive clearinghouse to Montreal Exchange, which is a wholly-owned subsidiary of TMX Group. CDCC's fixed income central counterparty services were launched on February 21, 2012. Please visit www.cdcc.ca for more information about CDCC.
