May 12, 2016

MSC Publishes Final Amendments to OTC Derivatives Trade Reporting Rule

Winnipeg – The Manitoba Securities Commission (MSC) today published final amendments to MSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (TR Rule). The amendments will increase transparency in the Canadian over-the-counter (OTC) derivatives market through public dissemination of transaction-level data. As of January 16, 2017 recognized trade repositories will be required to publicize certain data on transactions executed by OTC market participants.
The transaction-level data required to be publicly disseminated and related asset classes are set out in Appendix C to the TR Rule. These transaction details are subject to a publication delay and additional anonymity precautions. Moving forward, MSC Staff intend to study and consult on additional data and product types that may be appropriate for public dissemination.
The MSC also intends to continue to participate in the analysis of the use of derivative transactions as risk management tools within the same end user group, and to monitor international regulators’ approaches to end-user inter-affiliate trade reporting.
The blanket order regarding the exemption from duty to report set out in MSC Rule 91-507 will remain in place until the adoption of any regulatory amendments to the reporting of intragroup transactions. 
The MSC has worked with the CSA’s Derivatives Committee to make harmonized changes to province-specific rules. Securities regulators in Quebec and Ontario are publishing similar amendments concurrently. 
The amendments to the Rule will come into force on July 29, 2016. Trade data must be made public starting on January 16, 2017. 

The Manitoba Securities Commission is a division of the Manitoba Financial Services Agency, a Special Operating Agency of the Government of Manitoba that protects investors and promotes fair and efficient capital markets throughout the province.


Media Inquiries:
Jason Booth,
Communications Coordinator  |  (w) 204.945.1660 |