Canadian Clearing Classification Letter

On January 19, 2017, the Canadian Securities Administrators published National Instrument 94-101, Mandatory Central Counterparty Clearing of Derivatives and a related companion policy (the “Canadian Mandatory Clearing Rule”). This classification letter allows market participants to provide their counterparties with status information in order to determine if they are in scope for purposes of the Canadian Mandatory Clearing Rule. THIS DOCUMENT IS AVAILABLE IN BOTH ENGLISH AND FRENCH.

Addressing Termination Troubles

When Enron announced a shock $618 million loss on October 16, 2001, it took a further 47 days until it filed for bankruptcy. For Bear Stearns, it took 266 days between its bailout of a structured credit fund run by...