January 10, 2024
KOR Reporting Granted Canadian Trade Repository License, the First in a Decade
KOR | NEW YORK ― KOR Reporting Inc (KOR), a leading independent global derivatives regulatory platform known for its user-centric design and innovation, is pleased to announce that it has been granted a trade repository license by the Ontario Securities Commission (OSC) for all asset classes and servicing all client segments. With this significant achievement, KOR became the first new Canadian Trade Repository in a decade.
Authorization of our OSC license builds on KOR’s other global trade repository licenses in the US and Australia and evidence of confidence by the regulatory authorities to meet the critical role of processing and storing regulatory trade reports. The license reinforces the company's position as a trusted partner for financial institutions in the Canadian market.
“KOR’s founding members have previously launched and operated two of the other Canadian Trade Repositories,” said Tara Manuel, Chief Compliance Officer at KOR Reporting. “This gives us a unique perspective on the challenges in the market for the existing TRs and the unmet needs of market participants that we have specifically designed for."
KOR’s sub-second message processing, insightful rejection responses, real-time rejection grouping, API access to reports, advanced UI, rapid onboarding, and user-centric design workflows have established a new standard for a high-performing trade repository. This Canadian license marks a critical milestone in KOR’s global pursuit of all significant trade repository licenses.
For more resources on the OSC license, please see the Notice of Commission Order from January 4th, 2024, or download the order here.
U.S.-based KOR is a fintech company that develops future-minded technology innovations tailored specifically for derivatives markets. KOR Reporting Inc is an operator of global licensed derivative trade repositories. KOR Financial Inc. delivers a full suite of modular services that enable market participants to meet derivatives reporting mandates with unparalleled operational efficiency, user-centric designed systems, full processing transparency, and comprehensive self-service capabilities. Founded in 2020, the KOR team comprises former trade repository heads, top domain SMEs, and technology pioneers, creating a ground-up platform specifically for transaction processing.
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