AMF focuses on developing derivatives market

The Autorit des marches financiers (AMF) has announced the establishment of a Centre of Excellence for Derivatives (CED) to provide Quebec with modern and flexible regulatory instruments that can effectively foster the growth of the derivatives industry in Quebec while protecting investors.
A derivative is essentially a financial instrument – traded on or off an exchange and used to hedge risk that involve the trading of rights and obligations based on an underlying product, but do not directly transfer property.
Daniel Laurion, AMF executive director, special projects, will assume responsibility for the centre, and Derek West will head the centre, an AMF statement says.
The CEDs mandate will be, among others, to:
– co-ordinate the activities conducted by the various AMF units in matters pertaining to derivatives;
– ensure the development and implementation of a modern framework for derivatives markets in Quebec while considering Canadian and North American realities;
– disseminate information about new Quebec regulations among Quebec, Canadian and foreign stakeholders; and
– carry out the regular monitoring of developments that impact derivatives markets and regulations around the world to ensure that Quebec remains at the forefront of the industry.
The derivatives market in Quebec is enjoying substantial growth, Pierre Bernier, executive vice president of the AMF, said in a statement.
Accordingly, the AMF has every intention to assist the Quebec derivatives industry and support the Montreal Exchange by means of modern and flexible regulations to help ensure that Quebec plays a leading role in derivatives markets internationally.