CanDeal/TMX Term CORRA has officially launched!
In accordance with IOSCO principles, CanDeal Benchmark Solutions* oversees governance, benchmark and methodology quality and provides accountability for Term CORRA, Canada’s new benchmark rate. CanDeal Data & Analytics has applied IOSCO principles to the creation and delivery of its Reference and Composite Pricing Services, Analytics and Security Master products covering a universe of over 80,000 Canadian fixed income securities and has developed the methodology by which Term CORRA will be calculated.
About Term CORRA
Term CORRA has been designed to be a robust benchmark that adheres to IOSCO's Principles for Financial Benchmarks. Term CORRA will be calculated and published by CanDeal DNA using price and trade data from CORRA interest rate futures traded on the Montreal Exchange.
Term CORRA's input pricing is based on actual futures transactions that are further reinforced by market makers and market liquidity, thus making it a more accurate and reliable interest rate measure.
Term CORRA Benefits
Term CORRA is IOSCO and CSA compliant, and based on the Canadian Alternative Reference Rate calculation methodology.
Term CORRA is a forward looking term rate, derived from CORRA interest rate futures traded on the Montréal Exchange.
Term CORRA is unbiased, with strong oversight and controls, providing certainty in cash flow forecasting.
Term CORRA & CORRA Rates
for Term CORRA set out here (the "Terms"). If you do not agree to the Terms, you must not access or use Term CORRA.
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Last updated: 04 Dec 2023 16:00 EST
Term CORRA rates for the previous business day are published daily at 4:00PM (ET) except for Canadian market holidays. Please see the IIAC Debt Market Closure Schedule for details.
**CORRA measures the cost of overnight general collateral funding in Canadian dollars using Government of Canada treasury bills and bonds as collateral for repurchase transactions. CORRA is published on a T+1 basis. The Bank of Canada provides CORRA as a public good, at no cost to users and data distributors.
FREQUENTLY ASKED QUESTIONSFind answers to your questions and how to get access to Term CORRA.
- Designed to adhere to the IOSCO Principles for Financial Benchmarks
- Compliant with Benchmark Regulations
Publication of the Term CORRA rates will occur on each day at 1:00 pm EST (Eastern Standard Time).
Term CORRA: Canada's Trusted Benchmark
Canadian Annual Derivatives Conference Presentation With Andre Langevin (June 8th, 2023)
- Case Study: CARR's Review of CDOR: Analysis and Recommendations
- Learn More: Canadian Alternative Reference Rate (CARR) Working Group
- For Reference: Overview of Canadian Benchmark Reform
Term CORRA ResourcesFor detailed information and documents describing Term CORRA and regulatory and other details, click on the links below. Open Methodology configuration options
Licensing & Fees InformationAccess to Term CORRA data, licensing and subscription fee information is provided by TMX Datalinx. For additional information, please click here.
Contact the licensing team