Market notices

The Canadian Foreign Exchange Committee (CFEC) released today the results of its April 2023 semi-annual survey of foreign exchange volumes in Canada.

Today, the Canadian Alternative Reference Rate working group (CARR) published a set of documents that will help support the transition of the Canadian loan market from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA).

Following the cancellation today of the 2023.07.18 Treasury Bill Auction, the Bank has resolved the technical difficulties and is rescheduling the auction on Wednesday, July 19 at 10:30 a.m

Due to technical difficulties, the Treasury Bill Auction scheduled for 2023.07.18 at 10:30 has been cancelled.

Today, the Canadian Alternative Reference Rate working group (CARR) published its paper on legacy securities linked to CDOR (i.e. securities referencing CDOR that mature after CDOR’s cessation).

The first stage of CARR’s two-staged transition plan will be completed on June 30, 2023. Market participants are expected to have transitioned all new derivative (bilateral, cleared and exchange traded) and securities transactions to CORRA benchmarks, with limited exceptions, after June 30, 2023.

TMX Group Limited and Clearstream Banking S.A. announced plans to launch a Canadian Collateral Management Service (CCMS) later this year.

For two consecutive weeks, the majority of maturity-weighted notional volume in cleared Canadian dollar interest rate derivatives has been priced using CORRA instead of CDOR.

The Bank of Canada today published the Bank of Canada Oversight Activities for Financial Market Infrastructures 2022 Annual Report.

The Canadian Alternative Reference Rate working group (CARR) today published an impact assessment checklist to help firms assess and mitigate their exposures to the Canadian Dollar Offered Rate (CDOR).