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THE SECURITIES ACT |
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Order No. 7143 |
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Section 42 of MSC Rule 91-507 |
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June 26, 2015 |
DTCC Data Repository (U.S.) LLC
WHEREAS:
(A) The Manitoba Securities Commission (the “Commission”) issued an order effective October 22, 2014 designating DTCC Data Repository (U.S.) LLC (DDR) as a trade repository under section 31.6(1) of the Act;
(B) DDR is subject to MSC Rule 91-507 Trade Repositories and Derivatives Data Reporting (MSC Rule 91-507) and the terms and conditions of its designation order;
(C) The Director may, pursuant to section 42 of MSC Rule 91-507, exempt DDR, in whole or in part, from a requirement in MSC Rule 91-507; and such rule requires DDR to, among other things, create and make available to the public on a periodic basis, at no cost, aggregate data on volume, number (of transactions) and, where applicable, price, relating to the transactions reported to it pursuant to subsection 39(1);
(D) The Director was satisfied it was not prejudicial to the public interest and issued Commission Order No. 7010 (the “Previous Order”) which exempted DDR from Subsection 39(1) of MSC Rule 91-507 with respect to creating and making available to the public aggregate data on volume, number (of transactions) and, where applicable, price, relating to the transactions reported to it, until March 31, 2015;
(E) DDR applied to the Director to extend the exemption from subsection 39(1) of MSC Rule 91-507 from certain requirements in order to accommodate the additional time required by DDR to develop the appropriate capabilities to deliver the required public reports;
(F) The Director determined on March 31, 2015 that it was not prejudicial to the public interest to issue Commission Order No. 7078 that varied the Previous Order to extend the date of the exemption to June 2, 2015;
(G) DDR has made an additional application requesting that the Director further vary the Previous Order in order to extend DDR’s temporary exemption with respect to the equity and credit classes in order to continue to accommodate the time required by DDR to develop appropriate capabilities to deliver public reports which are responsive to complexities with respect to how data is currently reported to DDR by market participants;
(H) The Director has determined that it is not prejudicial to the public interest to issue an Order that varies the Previous Order to further extend the date of the exemption with respect to the equity and credit asset classes only.
IT IS ORDERED:
1. THAT, Order No. 7010 dated October 22, 2014 is amended in paragraph 1(f) by replacing the words “June 2, 2015” with the words “September 11, 2015 for transactions of the equity and credit asset classes”.
Director