Converge
Brochure

About CDCC

Canadian Derivatives Clearing Corporation (CDCC), a wholly-owned subsidiary of the Montréal Exchange (MX), acts as the central clearing counterparty for exchange-traded derivative products in Canada and for a growing range of customized financial instruments. CDCC's role is to ensure the integrity and stability of the markets that it supports.

CDCC has supported rapid growth in the Canadian derivatives marketplace for decades with expert clearing systems and risk management solutions. Originating in 1975 as clearing facilities to support the first Canadian equity options market, CDCC acquired its current name in 1996.

1977
Trans Canada Options (TCO) is established through merger of Montréal and Toronto options clearinghouses.
1983
TCO is organized as an independent service organization managed separately from its three shareholder exchanges (Montréal, Toronto, and Vancouver).
1985
TCO begins clearing futures for Toronto Futures Exchange.
1996
TCO changes its name to Canadian Derivatives Clearing Corporation (CDCC).
2000
CDCC becomes a wholly-owned subsidiary of the Montréal Exchange (MX).
2006
CDCC launches Converge® to provide central counterparty clearing services for customized equity options.
2008
TMX Group Inc. is created through combination of MX with TSX Group.
2009
MX and CDCC launch the SOLA® Clearing platform.
The Investment Industry Association of Canada (IIAC) chooses CDCC to develop the infrastructure for central counterparty clearing services for the Canadian fixed income products.
2012
CDCC operations are expanded to include clearing of fixed income (Repo) transactions.
On April 27, the Governor of the Bank of Canada announced that the Canadian Derivatives Clearing Service (CDCS) had been designated as subject to ongoing regulatory oversight by the Bank under the Payment Clearing and Settlement Act (PCSA).