Regulators will harmonise the rules with those in the US and EU
The Canadian Securities
Administrators (CSA) published its proposed rules for the
mandatory clearing of derivatives on Thursday, bring Canada
into line with reforms underway in the US and
Under the proposed
rules any transaction of a derivative involving a local
counterparty must be submitted for clearing to a regulated
The clearing rule
provides for substituted compliance for transactions involving
local counterparties if a clearing house operating in
jurisdiction with equivalent clearing rules clears the
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