International Swaps and Derivatives Association extends Digital Regulatory Reporting to Canadian Securities Administrators reporting amendments and adds Harmonized XML support

The International Swaps and Derivatives Association (ISDA) has expanded its Digital Regulatory Reporting (DRR) solution to cover revised Canadian derivatives trade reporting rules being implemented by the Canadian Securities Administrators (CSA), and updated the DRR to support a North America reporting message format to broaden usability for in-scope firms. The CSA revisions are scheduled for implementation on July 25, 2025, and ISDA has made DRR code for the Canadian amendments freely available for market participants to review and test. The update enables compliance using Harmonized XML, a trade reporting messaging format developed by The Depository Trust & Clearing Corporation (DTCC), in addition to existing support for ISO20022, with ISDA indicating Harmonized XML will also be extended to Commodity Futures Trading Commission (CFTC) swap data reporting once the CSA rules are fully rolled out. Canada becomes the seventh reporting ruleset available in ISDA DRR, following coverage for the US, Japan, the EU and UK EMIR, Australia and Singapore, with an extension for Hong Kong rule changes expected shortly ahead of their September effective date. ISDA reiterated its plan to support 11 reporting rule sets across nine jurisdictions and to maintain the DRR code as requirements evolve. The DRR is built on an industry working group interpretation of each ruleset and uses the Common Domain Model to translate that interpretation into free, machine-executable code that can be used to implement reporting logic or validate firms’ interpretations.