DTCC Expands Trade Repository Services in Canada, Offloads ProtoColl Service

All Canadian provinces and territories have been brought into the same fold via the GTR's service.

The Depository Trust & Clearing Corporation (DTCC), a provider of post-trade market infrastructure for the global financial services industry, has seen its Global Trade Repository (GTR) add trade repository services for Newfoundland and Labrador, bringing every Canadian province and territory into its areas of operation, according to a DTCC statement.

The DTCC’s GTR provides global over-the-counter (OTC) derivatives reporting, supporting detailed data on OTC derivatives transactions. The unit also provides tools for managing systemic risk and enabling users to meet their regulatory reporting obligations via a unified platform.

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Derivatives Reporting Under One Roof

The addition adds to GTR’s existing support for Alberta, British Columbia, Manitoba, New Brunswick, Nova Scotia, Ontario, Quebec, Saskatchewan, Nunavut, Northwest Territories, Prince Edward Island, and Yukon. The initiative also helps shore up risk analysis in Canada through the comprehensive adoption of harmonized derivatives reporting regulations.

These rules require reporting for OTC derivatives transactions, which includes rate, credit, equity, foreign exchange (FX), and commodity derivatives.

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Marisol Collazo
Marisol Collazo

According to Marisol Collazo, CEO of GTR Americas for DTCC, in a recent statement on the expansion: “We are pleased to be able to deliver robust and comprehensive derivatives trade reporting capabilities to market participants and regulatory authorities across Canada, bringing greater transparency and risk mitigation to the OTC derivatives markets.”

“As the only global trade repository offering reporting services across all five asset classes, we continue to work with regulators, service providers and end users to facilitate reporting in Canada and other major jurisdictions. Our commitment is to continue to support our clients by offering a flexible platform which simplifies their reporting processes by enabling them to report all their trades once,” she added.

DTCC Offloads ProtoColl

In addition to the latest upgrade to Canada’s OTC derivatives regime, the DTCC has also sold off ProtoColl, its end-to-end collateral and margin management service, to AcadiaSoft, Inc., an industry provider of margin automation solutions for counterparties engaged in collateral exchange.

The purchase of ProtoColl from the DTCC was aimed to help foster AcadiaSoft’s ability to provide market participants with automated VM processing services, thereby formulating a central margin solution for both IM and VM flows. Terms of the deal have not been disclosed at this time.

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