Canada (CSA) OTC Derivatives Data Reporting

In Canada the ‘Trade Repositories and Derivatives Data Reporting’ rules are implemented separately by each of the 13 provincial regulators. Collectively these are known as CSA to reflect the Canadian Securities Administrators' umbrella organisation that coordinates across the provinces.

What is Canada (CSA) Reporting?

Reporting began in 2015 for the Québec, Manitoba and Ontario jurisdictions and was extended in 2016 to include the remaining provinces and territories.

Firms trading OTC derivatives (swaps) in Canada must report details to a registered Trade Repository (TR). The reporting obligations include:

  • Real-time price dissemination reporting to provide transparency on pricing to the market
  • Transaction and valuation reporting to allow regulators to monitor for systemic risk

Canada reporting covers all OTC derivatives including those conducted on a swap execution facility across all five major asset classes.

Like their peer regulators across the G20, the Canadian provinces have been engaged with and closely following global harmonisation efforts such as CPMI-IOSCO’s CDE. They are expected to issue their own consultation exercise in 2022 to align their reporting with developing standards including UPI, ISO20022 and to also largely align with the revised CFTC reporting rules following the CFTC ReWrite.

How we can help

Our ReportShield™ quality assurance services give you the ability to demonstrate appropriate controls over your reporting obligations for PPD and Transaction Reporting. We can also conduct cross-regulation testing to ensure consistency with other regimes and provide remediation of reports.

Accuracy Testing

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Advanced Regulatory Reconciliation

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Control Framework

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Is your Canada Reporting accurate and complete?

For a conversation with one of our regulatory specialists, please contact us.

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