The Canadian Derivatives Clearing Corp. (CDCC) is proposing changes to its rules to bring them in line with principles developed by global regulators in the wake of the financial crisis.

The Ontario Securities Commission on Wednesday published a notice of proposed changes to the CDCC rules for public comment. The comment period ends Jan. 22, 2016.

The rule changes are intended to bring it into compliance with the principles for financial market infrastructures, which were developed by the Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO), the CDCC notice indicates.

In particular, amendments are needed to ensure that it complies with the principle that infrastructure firms should have “a well-founded, clear, transparent, and enforceable legal basis for each material aspect of its activities,” the CDCC notice says.

Those global principles were developed following the financial crisis as part of an effort to bolster and preserve financial stability.

“The proposal aims at ensuring CDCC’s compliance with the [principles] and enhancing the transparency and clarity of its rules,” the CDCC notice says.

In particular, the proposals aim “to clarify the powers attributed to CDCC … to ensure the highest degree of transparency and clarity to its clearing members and the market participants,” the notice says. They would also remove provisions in the rules that are redundant.