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.
