Derivatives Week
–Katy Burne
The Canadian Derivatives Clearing Corporation is working to finalize an over-the-counter derivatives clearing platform (CCP) with six domestic banks. As part of the initiative, it is in discussions with major international clearing organizations about facilitating domestic execution alongside cross-border margining and settlement—a long sought-after solution known as interoperability.
“We’ve been asked by domestic participants [who are clearing members] to consider all forms of international access,” said Glenn Goucher, senior v.p. and chief clearing officer at CDCC, a subsidiary of TMX Group.
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