Canada's Rewrite rules will take effect on July 25, 2025, introducing significant regulatory updates designed to align the country's trade reporting standards with global benchmarks. These changes aim to improve data quality, transparency, and consistency across the board.
Michele Hillery, DTCC Managing Director and Head of Repository & Derivatives Services, shared her thoughts on the impact of these updates:
“With only one month remaining until the July 25, 2025, compliance date for the Canadian trade reporting rules rewrite, market participants are strongly encouraged to finalize their preparations. DTCC’s Global Trade Repository (GTR) service continues to offer its simulator tool and end-to-end testing environment to assist firms in assessing their readiness. DTCC urges clients to complete User Acceptance Testing (UAT) for the new Common Data Elements (CDE) fields, validation changes and reporting updates to ensure full compliance with the Canadian rewrite.
As the industry leader in derivatives trade reporting across all thirteen Canadian provinces and territories, DTCC remains committed to supporting firms with production readiness for the Canadian rewrite. In addition, DTCC Consulting stands ready to support firms in the final weeks prior to go-live and is also available to assist with post compliance reviews and remediation efforts”
