The Bank of Canada is working at the international level, in co-operation with our colleagues at other Canadian agencies, to design measures for the safe and effective use of offshore CCPs no matter where they are located.
4  BIS central bankers’ speeches  Domestic CCPs While offshore CCPs may be a suitable choice for some jurisdictions, a few countries have decided to develop their own CCPs, particularly for products that can have important repercussions on their domestic financial systems. So what would be the advantage of building a Canadian CCP to clear OTC Canadian-dollar interest rate derivatives?