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CARR welcomes MX’s listing of new Three-Month CORRA Futures

The Canadian Alternative Reference Rate working group (CARR) welcomed Montréal Exchange’s (MX) notice that it will launch its new Three-Month Canadian Overnight Repo Rate Average (CORRA) Futures contract for trading on Friday June 12th, 2020. This launch date coincides with the Bank of Canada taking over of responsibility for publishing CORRA on June 15th, 2020.

The CARR co-chairs issued the following statement about the announcement:

“CARR members applaud the Montreal Exchange on the launch of its new three-month CORRA futures contract. Developing a robust futures market is an important step in establishing CORRA as a key interest rate benchmark in Canada. CARR members thank MX for their diligent efforts in developing this contract and look forward to its widespread use.”

CARR is a group of financial sector firms and public sector institutions working to promote the use of CORRA as a key interest rate benchmark in Canada. CARR was established under the auspices of the Canadian Fixed Income Forum.

For further information, please contact:

Market inquiries:

Senior Director
Financial Markets Department
Bank of Canada

Managing Director and Vice Chair
CIBC Capital Markets

Media inquiries:

Bank of Canada