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ARTICLE · 04 JULY 2016

BCSC Issues Guidance On Trade Reporting And Product Determination Rules

Stikeman Elliott LLP
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The BCSC has advised clearing agencies and derivatives dealers that the onboarding process with trade repositories may take several weeks to complete.

CanadaFinance and Banking
Stikeman Elliott LLP
Stikeman Elliott LLP
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The British Columbia Securities Commission (BCSC) has advised market participants that Multilateral Instrument 91-101 Derivatives: Product Determination and Multilateral Instrument 96-101 Trade Repositories and Derivatives Data Reporting (MI 96-101) as well as amendments to MI 96-101 are targeted to come into force before July 29, 2016, subject to obtaining necessary governmental approvals.  That is also the date when mandatory trade reporting begins for clearing agencies and derivatives dealers in Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, the Northwest Territories, Nova Scotia, Nunavut, Prince Edward Island, Saskatchewan and Yukon.

The BCSC has advised clearing agencies and derivatives dealers that the onboarding process with trade repositories may take several weeks to complete. The BCSC also reminded market participants that persons eligible to receive a legal entity identifier (LEI), other than individuals, must obtain a LEI

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