In the Canadian press today (Globe and Mail) on Multilateral Trading Facility (MTF)platform access:
- Last Monday, the Ontario Securities Commission (OSC) warned Thomson Reuters that it would have to disable Canadian banks' access to its Multilateral Trading Facility (MTF), an electronic platform that facilitates roughly $300-billion in global trading of foreign exchange derivatives each day.
- Thomson Reuters relayed the OSC's directive to its Ontario-based clients on Friday, catching the banks by surprise, according to two sources familiar with the situation. Over the weekend, trading desks faced the prospect that they might be cut off from an important channel for trading in European currency markets as early as Monday morning. That, in turn, could mean missing out on trading revenue.
Here is the article for more, may be gated
----
Got sidetracked by the yuan (admittedly a big focus right now) …. but yeah, this on CAD is not a good piece of news. it could have liquidity implications for Canadian markets upon opening today. I imagine there is frantic scrambling going on to resolve, at least for the coming days, a fix but this is a heads up if not.
