MONTREAL, Nov. 15, 2012 /CNW/ - The Canadian Derivatives Clearing Corporation (CDCC) today confirmed that it has requested that its Standard and Poor's (S&P) AA rating be withdrawn. Earlier today, S&P announced that it was affirming CDCC's corporate rating and withdrawing the rating at CDCC's request, effective December 31, 2012.
CDCC remains committed to adhering to best practices for financial markets infrastructure, including meeting or exceeding all operational and risk management practices.
CDCC is the issuer, clearinghouse and guarantor of exchange traded derivatives in Canada and exclusive clearinghouse to Montreal Exchange, which is a wholly-owned subsidiary of TMX Group. CDCC's fixed income central counterparty services were launched on February 21, 2012. Please visit www.cdcc.ca for more information about CDCC.
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha Group, The Canadian Depository for Securities, Montreal Exchange, Canadian Derivatives Clearing Corporation, Natural Gas Exchange, Boston Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montreal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE TSX Group Inc.