Canadian Clearing Classification Letter

On January 19, 2017, the Canadian Securities Administrators (CSA) published National Instrument 94-101, Mandatory Central Counterparty Clearing of Derivatives and a related companion policy (the “Canadian Mandatory Clearing Rule”). ISDA subsequently published a classification letter to allow 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. On January 27, 2022, the CSA published amendments to the Canadian Mandatory Clearing Rule. The following updated classification letter updates the previous letter to address these amendments.

Global Trading in INR Derivatives

Global trading in derivatives involving the Indian rupee (INR) has expanded significantly over the past decade, reflecting the currency’s growing role in international hedging and trading activity. According to the Bank for International Settlements (BIS) Triennial Central Bank Survey, the...