In a move poised to redefine the technological backbone of Canada’s capital markets, SIDE and InteliClear have embarked on a strategic collaboration to bring a modern, modular post-trade processing platform to the Canadian securities industry.
SIDE has acquired the exclusive rights to InteliClear’s U.S. back-office dealer books of records software for use in the Canadian market.
Under this agreement, SIDE will modify the InteliClear software to meet Canadian market requirements, while integrating it with SIDE’s industry mid-office platform, therefore advancing a new era of post-trade modernization in Canada.
InteliClear will provide support to SIDE in the transition of the U.S. software base into SIDE’s Canadian Market Infrastructure and will remain closely involved during implementation.
At the core of this initiative is the adaptation of InteliClear’s U.S.-based back-office system to meet the complex regulatory, tax, and operational demands of the Canadian market—an undertaking that could mark a turning point for financial infrastructure in the region.
John Paul DeVito, Co-Founder and Partner at InteliClear, describes the effort as “a game-changer” for Canada’s post-trade environment.
“The foundation of InteliClear’s proven U.S. post-trade processing system will be tailored by SIDE and integrated with SIDE’s established Mid-Office to align with Canadian regulatory, tax, and operational standards,” he said.
“What makes this a game-changer is the creation of a unified, modular platform that supports multiple asset classes in real time—an area where current Canadian platforms have faced operational limitations,” he added.
Unlike legacy systems—many of which are either siloed by asset class or owned by foreign entities—this platform is being built with Canadian stewardship at the forefront, DeVito told Traders Magazine.
“This collaboration is rooted in Canadian leadership and focused on delivering a future-forward, national solution,” he emphasized.
What truly differentiates this partnership is not only its technological ambition but its operational readiness. According to DeVito, “while other platforms may also claim real-time and multi-asset capabilities, what differentiates this initiative is the operational deployment already in place with InteliClear clients, covering U.S. equities, options, mutual funds, fixed income, and alternatives.”
As the platform continues to evolve, the partners are laser-focused on Canadian-specific enhancements, including local margin frameworks, tax treatments, and direct connectivity with Canadian central securities depositories (CSDs).
As the integration progresses, the industry will be watching closely for several key milestones. “Completion of regulatory certification in Canada, onboarding of pilot broker-dealer clients, and the full integration of SIDE’s mid-office platform with InteliClear’s back-office engine are all critical steps,” DeVito explained.
“Success will be defined by measurable improvements in operational efficiency, regulatory compliance, and cost reduction for Canadian firms delivered through a live, production-grade system,” he said.
In addition to the Canadian expansion, InteliClear and SIDE are discussing the integration of their platforms to introduce new functionality to the U.S. marketplace.
“This collaboration lays the groundwork for a globally adaptable model of post-trade modernization—one that is modular, multi-asset, and built for jurisdictional flexibility,” he said. “By combining InteliClear’s proven U.S. core processing engine with SIDE’s Mid-Office and front-office analytics, we are delivering a next-gen solution for both Canadian and U.S. markets.”
With active deployments in the U.S. and interest from markets in Europe, Asia, and Australia, the SIDE-InteliClear alliance is positioning itself to become a global model for post-trade modernization, according to DeVito.
DeVito also acknowledged that success on a global stage will require more than just a best-in-class platform. “It requires regulatory fluency and regional expertise,” he noted. “Through existing partnerships and engagements in regions such as Australia and with firms in Europe and Asia, we are actively cultivating the necessary market insights and relationships to extend this framework into other key jurisdictions.”
