A clearing house is an entity responsible for clearing and settling securities which acts as a central counterparty for trades executed between market participants.
This section lists current decisions pertaining to recognition or exemptions from recognition in respect of entities acting as clearing houses, as well as amendments to, or the application of, such decisions. All other decisions are available in the AMF Bulletin.
* Please note that the following documents are available in French only.
Canadian Derivatives Clearing Corporation (CDCC)
- Section Market Structures, clearing houses, CDCC Temporary suspension of the application of subparagraph 4b) of engagements taken towards the Autorité des marchés financiers and provided at the appendix B of the revised application of TMX Group date April 30, 2012 and de conditions set out in the following subparagraph of decision n° 2012-PDG-0075 et decision n° 2012-PDG-0078, Decision 2019-SMV-0020 (pdf - 143 KB)This link will open in a new windowUpdated on 2 December 2019 dated 2019-03-27, Bulletin 2019-04-04, Vol. 16, n°13.
- Recognition of Maple Group Acquisition Corporation, TMX Group Inc., Montreal Exchange Inc.and the Canadian Derivatives Clearing Corporation as a clearing house — (Decision No. 2012-PDG-0078 (pdf - 214 KB)This link will open in a new windowUpdated on 4 September 2012Décision dated 2012-05-02, Bulletin 2012-05-03, Vol. 9, No. 18)
- Revision of decisions No. 2012-PDG-0078 and No. 2012-PDG-0142 in order to modify the definition of “independent” director — (Decision No. 2018-PDG-0005 (pdf - 125 KB)This link will open in a new windowUpdated on 19 April 2018Révision des décisions numéros 2012-PDG-0078 et 2012-PDG-0142), Bulletin No. 2018-03-08, Vol. 15, No. 9)
- Temporary suspension of the application of the conditions set out in section III of Part I, paragraph b) of section IX of Part I and paragraph e) of section VII of Part IV of the recognition decision of TMX Group Ltd, TMX Group Inc.,Montreal Exchange Inc. and Canadian Derivatives Clearing Corporation as a clearing house — (Decision No. 2015-PDG-0115 (pdf - 37 KB)This link will open in a new windowUpdated on 29 March 2016Décisions de suspension temporaire de conditions relatives au rapport indépendant de la gouvernance et au rapport sur la révision des frais et des modèles de tarification dated 2015-07-08, Bulletin 2015-07-16, Vol. 12, No. 28)
- Revision of decisions No. 2012-PDG-0078 and No. 2012-PDG-0142 — (Decision No. 2014-PDG-0163 (pdf - 30 KB)This link will open in a new windowUpdated on 30 March 2016Groupe TMX, TMX, Bourse de Montréal, Corporation canadienne de compensation de produits dérivés, CDCC, CDS, la caisse canadienne de dépôt de valeurs limitée, Services de dépôt et de compensation CDS Inc., chambre de compensation, modification dated 2014-12-01, Bulletin 2014-12-04, Vol. 11, No. 48)
- Suspension of the application of conditions and revision of decision No. 2012-PDG-0078 issued on May 2, 2012 — (Decision No. 2012-PDG-0146 (pdf - 33 KB)This link will open in a new windowUpdated on 4 September 2012Décision dated 2012-07-04, Bulletin 2012-07-05, Vol. 9, No. 27)
Chicago Mercantile Exchange Inc.
- Exemption from the clearing house recognition requirement and from the derivatives qualification requirement and the derivatives authorization requirement — (Decision No. 2014-PDG-0137 (pdf - 72 KB)This link will open in a new windowUpdated on 18 November 2014chicago mercantile exchange dated 2014-10-31, Bulletin 2014-11-06, Vol. 11, No. 44)
Clearing and Depository Services Inc. (CDS)
Recognition of Maple Group Acquisition Corporation, The Canadian Depository for Securities Limited and of CDS Clearing and Depository Services Inc. as a clearing house — (Decision No. 2012-PDG-0142 (pdf - 371 KB)This link will open in a new windowUpdated on 4 September 2012Décision dated 2012-07-04, Bulletin 2012-07-05, Vol. 9, No. 27)
- Approval of the Integration plan of The Canadian Depository for Securities Limited and of CDS Clearing and Depository Services Inc with TMX Group Ltd — (Decision No. 2012-PDG-0190 (pdf - 78 KB)This link will open in a new windowUpdated on 7 November 2012Plan d'intégration, CDS, Groupe TMX dated 2012-10-26, Bulletin 2012-11-01, Vol. 9, No. 44)
- Révision de la décision de reconnaissance n° 2012-PDG-0142 visant à (i) d’élargir les critères d’éligibilité de l’administrateur représentant d’un marché non membre du Groupe TMX et (ii) de prévoir de nouvelles exigences en lien avec la gouvernance pour mettre en place un comité formé de représentants des marchés non membres du Groupe TMX – (Décision n° 2019-PDG-0064 (pdf - 96 KB)This link will open in a new windowUpdated on 19 May 2020 du 2019-12-12, Bulletin du 2019-12-19, Vol. 16, n° 50) - In French only
- Revision of decisions No. 2012-PDG-0078 and No. 2012-PDG-0142 in order to modify the definition of “independent” director — (Decision No. 2018-PDG-0005 (pdf - 125 KB)This link will open in a new windowUpdated on 19 April 2018Révision des décisions numéros 2012-PDG-0078 et 2012-PDG-0142), Bulletin No. 2018-03-08, Vol. 15, No. 9)
- Amendment to paragraph 42.5 of the recognition decision No. 2012-PDG-0142 aiming to exclude CDS INC. financial statements from the financial statements filed by CDS Ltd — (Decision No. 2015-PDG-0014 (pdf - 173 KB)This link will open in a new windowUpdated on 11 March 2015Modification, paragraphe 42.5, décision, reconnaissance, 2012-PDG-0142, états financiers, CDS inc., Caisse canadienne de dépôt de valeurs limitée dated 2015-01-29, Bulletin 2015-02-05, Vol. 12, No.5)
- Revision of decisions No. 2012-PDG-0078 and No. 2012-PDG-0142 — (Decision No. 2014-PDG-0163 (pdf - 30 KB)This link will open in a new windowUpdated on 30 March 2016Groupe TMX, TMX, Bourse de Montréal, Corporation canadienne de compensation de produits dérivés, CDCC, CDS, la caisse canadienne de dépôt de valeurs limitée, Services de dépôt et de compensation CDS Inc., chambre de compensation, modification dated 2014-12-01, Bulletin No. 2014-12-04, Vol. 11, No. 48)
- Amendment to paragraph 42.5 of the recognition decision No. 2012-PDG-0142, as amended by decision No. 2012-PDG-0237 — (Decision No. 2013-PDG-0105 (pdf - 124 KB)This link will open in a new windowUpdated on 29 March 2016Groupe TMX, TMX, CDS, la caisse canadienne de dépôt de valeurs limitée, Services de dépôt et de compensation CDS Inc., chambre de compensation, modification dated 2013-06-28, Bulletin 2013-07-04, Vol. 10, No. 26)
- Amendment to the recognition decision No. 2012-PDG-0142 related to the change of Maple Group Acquisition Corporation's name for TMX Group Limited and to the change of the fiscal period year-end of CDS — (Decision No. 2012-PDG-0237 (pdf - 140 KB)This link will open in a new windowUpdated on 29 March 2016Groupe TMX, TMX, CDS, la caisse canadienne de dépôt de valeurs limitée, Services de dépôt et de compensation CDS Inc., chambre de compensation, modification dated 2012-12-20, Bulletin 2012-12-20, Vol. 9, No. 51)
LCH.Clearnet Limited (LCH)
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Recognition of LCH.Clearnet Limited as a clearing house under section 12 of the Derivatives Act, RLRQ, c. I-14.01, and exemption from the requirements set out in sections 22, 24, 25, 32 and 34 of the Derivatives Act, RLRQ, c. I-14.01, and in sections 2 to 11 of Derivatives Regulation, RLRQ, c. I-14.01 — (Decision No. 2014-PDG-0082 (pdf - 182 KB)This link will open in a new windowUpdated on 28 August 2014reconnaissance LCH dated 2014-07-28, Bulletin 2014-07-31, Vol. 11, No. 30)
LCH SA
Exemption from recognition as a clearing house – Decision 2019-SMV-0055 (pdf - 192 KB)This link will open in a new windowUpdated on 5 December 2019 dated 2019-11-20, Bulletin 2019-11-28, Vol. 16, No. 47.
Nodal Clear, LLC
Dispense de l'obligation de reconnaissance de Nodal Clear, LLC à titre de chambre de compensation et des obligations d'agrément et d'autorisation relatives aux dérivés – Décision 2017-SMV-0034 (du 2017-07-18, Bulletin du 2017-07-20, Vol. 14, n° 28)
Natural Gas Exchange (NGX)
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Exemption from recognition — (Decision No. 2002-C-0439 (pdf - 160 KB)This link will open in a new windowUpdated on 22 March 2016Natural Gas Exchange Inc., Natural Gas Exchange, dispense, reconnaissance, bourse, NGX dated 2002-11-29, Bulletin 2003-03-14, Vol. 34, No.10)
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Decision revising previous exemptions — (Decision No. 2004-PDG-0039 (pdf - 2 MB)This link will open in a new windowUpdated on 22 March 2016Décision - Valeurs mobilières dated 2004-07-27, Bulletin 2004-07-30, Vol. 1, No. 26)
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Decision revising previous exemptions — (Decision No. 2009-PDG-0033 (pdf - 95 KB)This link will open in a new windowUpdated on 22 March 2016Natural Gas Exchange Inc., Natural Gas Exchange, dispense, reconnaissance, bourse, NGX, révision dated 2009-04-29, Bulletin 2009-05-01, Vol. 6, No.17)
The Options Clearing Corporation (OCC)
- Exemption from qualification and authorization for creating and marketing derivatives under the Derivatives Act — (Decision No. 2010-PDG-0206 (pdf - 104 KB)This link will open in a new windowUpdated on 29 March 2016dispense, agrément, OCC, SEC, CFTC, the options clearing corporation, dispense, agrément, autorisation, loi sur les instruments dérivés, dérivé, OCC dated 2010-11-22, Bulletin 2010-11-26, Vol. 7, No. 47)
Memorandum of understanding
- Multilateral Arrangement for Regulatory, Supervisory and Oversight Cooperation on LCH.Clearnet Ltd (pdf - 319 KB)This link will open in a new windowUpdated on 11 July 2017 (dated November 17, 2016)
- Memorandum of Understanding (pdf - 103 KB)This link will open in a new windowUpdated on 9 April 2014Memorandum of Understanding (“MOU”) Respecting the Oversight of Certain Clearing and Settlement Systems (coming into force June 9, 2014) (Available in English)
- Memorandum of Understanding (pdf - 82 KB)This link will open in a new windowUpdated on 3 December 2015"Memorandum of Understanding,Oversight,Clearing Agencies, Trade Repositories,matching Service Utilities" Respecting the Oversight of Clearing Agencies, Trade Repositories and Matching Service Utilities (coming into force January 18, 2016)
- Memorandum of Understanding (pdf - 111 KB)This link will open in a new windowUpdated on 7 October 2016"Memorandum, Understanding, European, Securities, Markets, Authority’s Monitoring, Ongoing, Compliance, Recognition, Conditions, CCPs, Established, Canada, Manitoba, Ontario, Quebec" Related to European Securities and Markets Authority's Monitoring of the Ongoing Compliance with Recognition Conditions by CCPs Established in Canada - Manitoba, Ontario and Québec (coming into force November 30, 2015)
Qualifying Central Counterparties
- CSA Multilateral Staff Notice 24-311 (pdf - 76 KB)This link will open in a new windowUpdated on 28 July 2014Qualifying Central Counterparties: Qualifying Central Counterparties