CanDeal Data & Analytics (DNA) announced its partnering with LSEG Data & Analytics to distribute CanDeal DNA Consensus OIS and Swap Rates.
CanDeal DNA Consensus OIS and Swap Rates are expected to become key reference rates for the market due to quality and consistency of coverage with inputs provided by, and consensus derived from, CanDeal’s partner banks and dealers.
This product innovation is an extension of CanDeal’s collaborative efforts with the Bank of Canada and the Canadian Alternative Reference Rate Working Group (CARR) as the market transitions away from CDOR to the new Term CORRA benchmark.
The Consensus CAD OIS (CORRA) rates product is designed to provide market transparency in the OIS swap curve for out to two years, while the CanDeal Consensus CAD Swap (CORRA) rates product provides rates from two to 30 years. Each rate represents the market rate for the fixed leg of a swap where the floating leg references the Canadian Overnight Repo Rate Average (CORRA).
“CanDeal is the premier service for Canadian fixed income and interest rate derivatives data. This extension of our partnership will enable our clients to derive additional value through access to the Consensus OIS and Swap Rates,” said Debbie Lawrence, Group head of Data Strategy and Management at LSEG.
“The cessation of the CDOR benchmark has been a turning point for the financial industry,” said Andre Craig, president of CanDeal DNA. “In addition to collaborating with CanDeal Benchmark Solutions and market stakeholders to launch the forward-looking Term CORRA benchmark this past year, we are honored to continue to partner with the industry and with LSEG Data & Analytics to introduce the Consensus OIS and Swap Curves and provide deeper transparency.”