The Chicago Mercantile Exchange Inc. (CME) has thrown its hat into the trade repository ring in Quebec.
The Autorité des marchés financiers (AMF) said Thursday that the CME has applied for recognition as a trade repository for reporting over-the-counter (OTC) derivatives transactions in Quebec. The CME joins DTCC Data Repository (U.S.) LLC and ICE Trade Vault, LLC in seeking to fill the trade reporting role.
The AMF is seeking comments on the application by September 22. It’s also asking those engaged in derivatives trading as counter parties to contact the prospective trade repositories to start setting up connectivity procedures, in order to facilitate the transition to the new trade reporting regime. The rules establishing the obligation to report data to a trade repository are slated to come into effect October 31.
Regulators around the world are adopting trade repository reporting regimes in an effort to boost oversight of the OTC derivatives market.