Michele Hillery, Head of Repository & Derivatives Services (RDS) at DTCC, shared her insights on the implementation of Canada’s amended trade reporting rules. These updates bring substantial changes to the country’s reporting standards, marking a significant shift in regulatory requirements.
“The Canadian Securities Administrators (CSA) amended trade reporting rules (Canada Rewrite) have been successfully implemented by DTCC’s Global Trade Repository (GTR) service, through its locally designated/recognized trade repository, DTCC Data Repository (U.S.) LLC (DDR), across all thirteen Canadian provinces and territories. The updated requirements closely align with CFTC reporting standards, marking an important step toward greater regulatory alignment, supporting transparency and improved data quality in the global derivatives marketplace. Notable changes in the Canada Rewrite include various new Critical Data Element fields, UPI for Credits, Rates, Equities, and FX, and the addition of collateral reporting requirements for dealers.
As the industry continues to adjust to these Canadian reporting changes, firms are encouraged to engage with DTCC. For those seeking additional guidance, DTCC Consulting Services is prepared to assist firms as they navigate the post-Canada Rewrite landscape and other global regulatory adjustments to support successful implementations.”
