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TMX Datalinx Announces Production Date for Distribution of Term CORRA Reference Rates
TMX Datalinx Announces Production Date for Distribution of Term CORRA Reference Rates C...
About this update from Tmx Group Ltd.
[{"type":"text","content":"\n \n \n \n TMX Datalinx Announces Production Date for Distribution of Term CORRA Reference Rates\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 10, 2023\n \n \n /CNW/ - TMX Datalinx®, TMX Group's information services division, today announced the production date of\n \n September 5, 2023\n \n , for the distribution of new Term CORRA (Canadian Overnight Repo Rate Average) reference rates.\n \n \n The launch of CanDeal/TMX Term CORRA (Term CORRA) supports\n \n Canada's\n \n financial industry transition from the Canadian Dollar Offered Rate (CDOR), the current key interest rate benchmark, to a new risk-free, transaction-based benchmark, scheduled for\n \n June 2024\n \n . The Term CORRA benchmark is a forward-looking term rate to replace CDOR in loans and associated derivative hedges, and will be derived from transactions and executable bids and offers from CORRA interest rate futures traded on the Montréal Exchange.\n \n \n \"TMX Datalinx's role in the upcoming industry transition to Term CORRA represents an important step forward for our benchmark and indices strategy, while enriching the core content we provide to clients,\" said\n \n Michelle Tran\n \n , President, TMX Datalinx. \"We are excited to work with the CanDeal team in the distribution of the Term CORRA benchmark, and to explore further opportunities for new products based on Term CORRA.\"\n \n \n \"The launch of the Term CORRA reference rates marks an exciting milestone in bringing a new benchmark to the industry leveraging our respective capabilities. We are pleased to partner with TMX to provide exchange futures and distribution,\" said\n \n Andre Craig\n \n , President, CanDeal Data & Analytics. Commenting on the launch,\n \n Louise Brinkmann\n \n , Head of CanDeal Benchmark Solutions said, \"These transparent and regulated term rates will provide a robust standard for interest rate benchmarks in\n \n Canada\n \n .\"\n \n \n Term CORRA is calculated and administered by CanDeal Benchmark Solutions and exclusively ...