TMX Group Limited and Clearstream Banking S.A. announced plans to launch a Canadian Collateral Management Service (CCMS) later this year.
CFIF members welcome the launch of the CCMS, which is expected to modernize and improve the Canadian financial ecosystem for securities financing and collateral markets. The repo triparty service will provide buy- and sell-side market participants with the infrastructure to automate the repo transaction lifecycle, which should lower the cost of collateral, improve collateral mobility and availability, and support liquidity in funding markets. It will also facilitate the transition away from Bankers’ Acceptances, which are expected to cease after the cessation of CDOR in June 2024. CCMS can potentially make repo a more attractive investment alternative, and it creates a platform for development of new securitized assets.
CFIF encourages those market participants active in the securities financing and collateral markets to consider joining the new CCMS.
The Canadian Fixed-Income Forum (Forum) is a senior level industry-wide committee established by the Bank of Canada to discuss developments in fixed-income market structure and functioning, market practices, and related policy issues. The goals of the Forum are to:
- enhance the efficiency and resilience of the Canadian fixed-income market;
- improve the quality, clarity and market-wide understanding of Canadian fixed-income trading practices;
- evaluate and propose changes to market infrastructure;
- communicate any recommendations and analysis to oversight authorities, regulators, industry groups and other market participants as needed.
The Forum will not discuss monetary policy or policy issues directly relating to the size and distribution of the federal government’s debt programme which are covered through other fora.
Financial Markets Department
Bank of Canada
Bank of Canada