CDCC uses a state-of-the-art technology infrastructure for clearing exchange-traded derivative products and OTC instruments.
CDCC's technology infrastructure combined with its processes form the Canadian Derivatives Clearing System (CDCS).
CDCC has a leading-edge proprietary clearing platform, SOLA® Clearing, which is part of a proprietary software system developed by the Montréal Exchange, CDCC's sole shareholder and a wholly-owned subsidiary of TMX Group. It is designed to support clearing and settlement of a full range of products. CDCC Clearing Members are able to enter and modify their real-time data via the SOLA Clearing Application, from their offices.
CDCC receives exchange-traded derivatives transactions from MX as they occur. The positions are immediately updated to CDCC's SOLA Clearing Application.
CDCC also receives fixed income transactions (cash buy or sell trades and repurchase transactions) from acceptable marketplaces. The positions are immediately updated to the SOLA Clearing Application upon being duly novated to CDCC.
CDCC Clearing Members can use any of the following methods to connect to the SOLA Clearing Application:
CDCC delivers end-of-day reconciliation information to reinforce its base services.
CDCC upholds a secure File Transfer Protocol (FTP) site to store long-term archives for Clearing Members. The reconciliation information includes:
Clearing Members can use Tag Log Files for downstream processing of data.
CDCC supplies, for a fee, fixed record reconciliation files that can be forwarded to a back-office vendor or used internally.
CDCC also markets a master file of series listed on MX.