Canada: Financial Sector Assessment Program: Detailed Assessment of Observance of the CPSS/IOSCO Recommendations for Securities Settlement Systems
February 13, 2008
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The Canadian Depository for Securities (CDS) is the operator of the securities settlement system. The design and operations of the CDS are covered by a solid legal basis. The regulatory framework is clear and transparent to market participants. The risk management procedures of the CDS as a Central Counterparty (CCP) have not yet been assessed against the Committee on Payments and Settlements Systems Recommendations for CCP. The CDS should explicitly assess the benefits and costs of acting as a CCP for trade-for-trade (TFT) transactions.
Subject: Central counterparty clearing house, Collateral, Credit default swap, Financial institutions, Financial markets, Money, Securities, Securities settlement systems
Keywords: BOC securities transaction, cash settlement, CDS participant, CDS settlement agent, CDS settlement bank, CDS website, Central counterparty clearing house, clearing house, Collateral, commercial paper, CR, Credit default swap, financial risk, Global, ISCR, nominee name, replacement cost, risk-control procedure, Securities, securities clearing, Securities settlement systems, security interest, settlement account
Pages:
41
Volume:
2008
DOI:
Issue:
060
Series:
Country Report No. 2008/060
Stock No:
1CANEA2008002
ISBN:
9781451807035
ISSN:
1934-7685
