25 May 2017
Find out more

TMX Group CCPs get official designation

29 July 2014  |  1165 views  |  0 Source: TMX Group

The Bank of Canada and certain provincial commissions today announced that the TMX Group Limited central counterparties (CCPs) - CDCC, CDS and NGX - can each be considered qualifying central counterparties (QCCPs) pursuant to the standards developed by the Basel Committee on Banking Supervision and adopted by OSFI.

This status allows certain bank exposures to the CCPs to be subject to lower capital requirements.

"TMX Group welcomes this designation," added Thomas Kloet, CEO, TMX Group. "Our central counterparties continue to provide valuable services to participants across our marketplaces and this designation recognizes our efforts to meet the highest international standards for these important entities".

To achieve QCCP status, an entity must be licensed to operate as a CCP and be prudentially supervised by a regulator/overseer that has established and publicly indicated that it applies to the CCP, on an ongoing basis, domestic rules and regulations that are consistent with the Principles for Financial Market Infrastructures (PFMIs) established by the Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO). The PFMIs are international standards for payment, clearing and settlement systems, including central counterparties, which are designed to ensure that the infrastructure supporting global financial markets is robust and well placed to withstand financial shocks. The Bank of Canada and the provincial securities regulators that have licensed CDS, CDCC and NGX to operate as CCPs have all adopted the PFMIs as their risk-management standard for CCPs.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.niceactimize.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
Banks must get on AI bandwagon now – new Finextra researchBanks must get on AI bandwagon now – new F...
9266 views comments | 22 tweets | 31 linkedin
Google and PayPal partner for mobile shopping by fingerprintGoogle and PayPal partner for mobile shopp...
9230 views comments | 28 tweets | 28 linkedin
Twins fool HSBC voice biometrics - BBCTwins fool HSBC voice biometrics - BBC
8982 views comments | 21 tweets | 24 linkedin
BBVA launches Open API marketplaceBBVA launches Open API marketplace
7377 views comments | 33 tweets | 54 linkedin
BBVA brings info and payments to social and messaging networksBBVA brings info and payments to social an...
6780 views comments | 11 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job