October 1, 2012
Bank of Canada to allow global OTC derivatives clearing | Business | Reuters
Canada has declined to mandate a local CCP for local people, letting the global CCPs provide the necessary services to enable Canada to meet their G20 commitment. Personally I think this is sensible and pragmatic decision, the cost and complexity involved in setting up a CCP for OTC products isn’t trivial and can’t easily be justified by clearing trades solely for domestic business.
I wonder if Australia will follow suit? The story is reported by Jeffrey Hodgson, no relation.
Bank of Canada to allow global OTC derivatives clearing | Business | Reuters.
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