94-101 – Mandatory Central Counterparty Clearing of Derivatives (National Instrument)
Securities Division
4th Floor, 2365 Albert Street
Regina, SK, S4P 4K1
Tel: (306)787-5645
Fax: (306)787-5899
Email: fcaa@gov.sk.ca
94-101 – Mandatory Central Counterparty Clearing of Derivatives (National Instrument)
Instrument
National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives
Effective Date: April 4, 2017. In Saskatchewan: April 5, 2017.
The purpose of the Instrument is to impose mandatory central counterparty clearing of certain standardized OTC derivatives in order to reduce counterparty risk in the derivatives market and increase financial stability.
94_101_ni_instrument_january_19_2017.pdf
Amendments to the Instrument
Amendments to National Instrument 94-101
The Amendments serve two purposes. First, the Amendments aim to update the list of mandatory clearable derivatives to reflect the transition to a new interest rate benchmarks regime based on overnight interest rate benchmarks, such as the Canadian Overnight Repo Rate Average and Secured Overnight Financing Rate. The second purpose of the Amendments is to add certain classes of over-the-counter derivatives to the list of mandatory clearable derivatives provided in Appendix A of National Instrument 94-101.
More information can be found in the CSA Notice of Publication.
Subject to Ministerial approval, the Amendments will come into force on March 25, 2026.
94_101_ni_amendments_march_25_2026.pdf
Amendments to National Instrument 94-101
Effective Date: Section 8 – May 3, 2022; Remaining sections - September 1, 2022. In Saskatchewan: Section 8 – May 3, 2022; Remaining sections - September 1, 2022.
94_101_ni_amendments_may_3_2022.pdf
Amendments to National Instrument 94-101
Effective Date: August 25, 2020. In Saskatchewan: August 25, 2020.
94_101_ni_amendments_august_25_2020.pdf
Companion Policy
Companion Policy 94-101CP Mandatory Central Counterparty Clearing of Derivatives
Effective Date: April 4, 2017. In Saskatchewan: April 5, 2017.
Companion Policy to National Instrument 94-101 Mandatory Central Counterparty Clearing of Derivatives.
94_101_companion_policy_april_5_2017.pdf
Changes to the Companion Policy
Changes to Companion Policy 94-101CP
Effective Date: Section 8 – May 3, 2022; Remaining sections - September 1, 2022. In Saskatchewan: Section 8 – May 3, 2022; Remaining sections - September 1, 2022.
94_101_cp_changes_january_27_2022.pdf