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Risk Focus Issues Canada Regulatory Rules Package for DTCC Reporting

Canada Derivatives Regulatory Rules PackageRisk Focus, Inc. has completed 100% of the Canada regulatory validation rules for DTCC derivatives trade reporting required by the Canadian Securities Administrators (CSA) by the October 31, 2014 deadline.

The Canadian rules validation package is being made available to all firms using the Risk Focus Trade Reporting Validator.  The Canada package has been released to four global banks currently using the validation tool for testing and compliance.

Risk Focus has released the Canada rules set prior to the Canadian regulators’ published deadline of October 31, 2014 for derivatives dealers.  This allows reporting firms to pre-validate their derivatives trade submissions to the DTCC’s GTR trade repository ahead of the Canadian compliance deadline.

Under the new rules issued by Canadian Securities Administrators (CSA), a reporting party to a transaction with a local Canadian counterparty must report the following information by October 31, 2014 to a designated or recognized trade repository:

  • Creation data
  • Lifecycle Event Data
  • Valuation Data
  • Historical Data

The Canada rule package covers both rules explicitly defined by the Canadian Securities Administrators (CSA) and the DTCC GTR validation rules applicable to trades involving Canadian counterparties.

Asset class coverage includes Credit, Commodities, Equity, FX and Interest Rates. The rule set significantly enhances reporting firms’ compliance with DTCC reporting formats and Canada derivatives regulations, while reducing testing costs and error rates.

Risk Focus will release additional Canada regulatory compliance rules due on April 30, 2015 and December 31, 2015 in subsequent rule sets.

For more details please visit our Trade Reporting Validator page.

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