Rule detail : 140360

CSA OSC Trade, Derivatives Reporting

Updated on: Oct 29, 2024

Latest Event

Oct. 2024 CSA Que Bulletin
On Oct. 24, 2024, CSA Que published derivatives data reporting final rule in Bulletin.
In Oct. 2024, CSA issued order exempting derivatives reporting, see #231895.

On Jun. 9, CSA OSC proposed amendments to trade reporting rule.

CSA proposed to amend OSC 91-507 trade repositories and derivatives data reporting.
Also proposed changes to OSC 91-507CP (trade reporting CP), OSC 91-506CP (product determination CP); issued Notice 91-705 draft OSC derivatives data technical manual.
Aims to reduce the complexity of market participants' reporting systems and decrease operational and compliance costs while improving consistency and quality of data.
Proposal Provisions
Harmonized data reporting requirements with international data reporting standards.
Amended interpretation of affiliated entity to align with NI 93-101 derivatives business conduct to allow partnerships, trusts to benefit from non-dealer exclusion, #126997.
Updated trade repository governance, risk and operational requirements to align with international standards; established trade reporting requirements for counterparties.
Extended maintenance and renewal of legal entity identifiers to apply to reporting counterparties that are not local; set derivatives trading facility reporting standards.
Additionally, implemented improvements designed to enhance data accuracy and consistency, such as data validation and verification, similar to other global regulators.
Created a new administrative technical manual and redrafted the trade reporting CP.
Consultation
Comments on the proposed trade reporting rule amendments are due Oct. 7, 2022.
Jul. 25, 2024 CSA Final Rule
On Jul. 25, 2024, CSA published notice of final rule on derivatives data reporting.
Published a revised technical manual to provide market participants with assistance.
Aligns with standards developed by the Committee on Payments and Market Infrastructures (CPMI), International Organization of Securities Commissions (IOSCO).
Final rule reported by CSA NVS, CSA ALB, CSA Que, CSA BC, CSA OSC, and CSA NBW.
The rule comes into effect on Jul. 25, 2025.
Jul. 25, 2024 CSA OSC Supplemental Guidance
On Jul. 25, 2024, CSA OSC published supplement on changes to OSC companion policy 91-507CP, OSC companion policy 91-506CP, and related consequential amendments.
Oct. 2024 CSA Ministerial Rule Approval
On Oct. 10, 2024, CSA published notice of ministerial approval of amendments to OSC Rule 91-507 on data reporting and consequential amendments to Rule 13-502 Fees.
Also adopted changes to companion policy 91-507CP to OSC Rule 91-507, companion policy 91-506CP to OSC Rule 91-506, companion policy 13-502CP to OSC Rule 13-502.
The amendments as well as the changes will come into force on Jul. 25, 2025.
Oct. 2024 CSA Que Bulletin
On Oct. 24, 2024, CSA Que published derivatives data reporting final rule in Bulletin.
In Oct. 2024, CSA issued order exempting derivatives reporting, see #231895.

Regulators

CSA; CSA ALB; CSA BC; CSA NBW; CSA NVS; CSA OSC; CSA Que

Entity Types

B/D; IA

Reference

CSA: PR, RF, 10/10/2024; PR, Nt 91-701, RF 96-101CP, 7/25/2024; BC: PR 2024/070, 7/25/2024; PR 2022/36, 6/9/2022; NVS: PR, 7/25/2024; PR, 6/9/2022; ALB: PR, 7/25/2024; PR, 6/9/2022; Que: Bul Vol. 21 No. 42 p. 83, 10/24/2024; PR, 7/25/2024; PR, 6/9/2022; NBW: PR, 7/25/2024; PR, 6/9/2022; OSC: OSC Bul Vol. 47 Is. 41 p. 7860, 10/10/2024; Gd, Vol. 47, Issue 30 (Supp-1), Nt 91-705, PR, 7/25/2024; PR, NT 91-705, RF NI 91-507, 6/9/2022; IBOR; Citation: *OSC* 91-507, 91-507CP, 91-506CP;

Functions

Compliance; Legal; Operations; Privacy; Reporting; Risk; Trade Reporting; Trading

Countries

Canada