Canada ponders best route to derivatives clearing
Dealers and regulators are in separate discussions on over-the-counter derivatives clearing.
Canadian banks and regulators are deliberating over the creation of a Canadian central counterparty (CCP) for over-the-counter derivatives.
"There's a lot of work going on around this," remarks one Toronto-based derivatives head at a large Canadian dealer.
The Group of 20 has called for all standardised derivatives to be centrally cleared and reported to trade repositories by the end of 2012, with non-standardised trades subjected to higher capital requirements. In the face of these demands
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