On Jun. 16, LatAm SEF issued notice on derivatives trade reporting.
LatAm SEF issued regulatory notice to notify trading privilege holders in Canadian jurisdictions of LatAm SEF's compliance/obligations re CSA derivatives trade reporting.
CSA OSC's amended trade reporting rules introduce new reporting obligations for CFTC-registered Swap Execution Facilities (SEFs) executing swaps.
This involves Canadian market participants, and the swaps are intended to be cleared and, therefore, are subject to CFTC prohibitions on counterparty name disclosure.
This is referred to as anonymous derivatives and the rules affects such disclosures.
Currently trade reporting to Canadian regulatory authorities is via Canadian market participants who are unable to report the identity of counterparties.
Specifically on anonymous derivatives as the counterparty name is not disclosed to them, and the reporting rules resolve this by placing the reporting obligation on SEFs.
As such, SEFs, the execution venue, have recordkeeping on both such counterparties.
Trade Reporting
LatAm SEF conducts trade reporting for anonymous derivatives via its service provider MarkitSERV's MarkitWire platform, and LatAM sets out instructions to this platform.
LatAm SEF participants in Canadian jurisdictions must have Canada jurisdiction regulatory reporting enabled in their MarkitWire static data, managed via MarkitSERV.
In particular, this is managed through MarkitSERV DMS, and with this setting activated, counterparty reporting will be conducted as per CSA's requirements.
This refers to CSA's amended trade reporting requirements (Canada Within Jurisdiction) while still respecting CFTC's counterparty name disclosure prohibitions.
LatAm SEF urge participants to review their static data settings in MarkitSERV DMS prior to the effective date of the CSA's rule changes as of Jul. 25, 2025.
