What is Canadian (CSA) Reporting?
Reporting began in 2015 for the Québec, Manitoba and Ontario jurisdictions and was extended in 2016 to include the remaining provinces and territories.
Firms trading OTC derivatives (swaps) in Canada must report details to a registered Trade Repository (TR). The reporting obligations include:
- Real-time price dissemination reporting to provide transparency on pricing to the market
- Transaction and valuation reporting to allow regulators to monitor for systemic risk
Canadian reporting covers all OTC derivatives including those conducted on a swap execution facility across all five major asset classes.
Like their peer regulators across the G20, the Canadian provinces have been engaged with and closely following global harmonisation efforts such as CPMI-IOSCO’s CDE. In July 2024, they published their long awaited final rules for their transaction reporting rewrite which has a go-live date of 25 July 2025.
The rules bring Canadian reporting largely into line with the CFTC ReWrite but also adopt some fields and themes from ESMA’s EMIR Refit.
