Standard & Poor's Confirms Canadian Derivatives Clearing Corporation's AA Credit Rating

TMX Group Inc. today announced that the Standard & Poor's Rating Services (S&P) has confirmed Canadian Derivatives Clearing Corporation's (CDCC) AA rating, with a stable outlook. CDCC is the issuer, clearinghouse and guarantor of the Montréal Exchange's exchange-traded derivatives in Canada.

According to the S&P report, the rating confirmation reflects CDCC's prudent risk management policies and procedures, comprehensive suite of financial safeguards, mutualization of risk, high-quality, liquid collateral, and its continual surveillance and assessment of members' financial condition.

"We are very pleased that S&P has recognized CDCC's strength, as well as the sound management of this vitally important service," said Alain Miquelon, President, Montréal Exchange and Group Head of Derivatives.

CDCC is currently working in partnership with the dealer and user community to develop the infrastructure for central-counterparty services for the Canadian fixed income market. In addition, CDCC has proposed a domestic clearing solution for other over-the-counter derivatives that is linked to other global derivatives clearinghouses.