Canada’s transition to risk free rates has a unique characteristic: it also spells the end of a multi-billion-dollar market – Banker’s Acceptance (BA) – that is already showing a transition when looking at CORRA [Canadian Overnight Repo Rate Average] futures volumes. We speak with Michelle Tran, president of TMX Datalinx, about the building blocks underpinning the cessation of CDOR [Canadian Dollar Offered Rate] in June 2024 and advent of Term CORRA.
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