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On the margin of success: the legal and regulatory protections for customer margin in the Canadian derivatives markets

Chamorro-Courtland, Christian 2016, On the margin of success: the legal and regulatory protections for customer margin in the Canadian derivatives markets, Banking & finance law review, vol. 32, no. 1, pp. 1-46.

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Title On the margin of success: the legal and regulatory protections for customer margin in the Canadian derivatives markets
Author(s) Chamorro-Courtland, Christian
Journal name Banking & finance law review
Volume number 32
Issue number 1
Start page 1
End page 46
Total pages 46
Publisher Carswell Publishing
Place of publication Scarborough, Canada
Publication date 2016-11
ISSN 0832-8722
Summary This article analyzes the new legal regime for protecting margin that is postedby cleared derivatives (or cleared swaps) customers in the Canadian derivativesmarkets. In response to the global financial crisis of 2008, Canada passedlegislation to reform these markets. One of the major reforms was the introductionof mandatory clearing for standardized over-the-counter (OTC) swaps through acentral counterparty clearing system (CCP). This reform requires customers thatenter into cleared swaps contracts to post margin with a clearing intermediary inorder to comply with the rules of the clearing system. The Canadian SecuritiesAdministrators OTC Derivatives Committee (CSA) has created a Model Law (theModel Provincial Rule, or MPR) for the provinces to implement in order toincrease legal certainty for cleared swaps customers that post margin with anintermediary.
Language eng
Field of Research 180105 Commercial and Contract Law
1801 Law
Socio Economic Objective 970118 Expanding Knowledge in Law and Legal Studies
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2016, Carswell Publishing
Persistent URL http://hdl.handle.net/10536/DRO/DU:30091478

Document type: Journal Article
Collection: Law
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