TMX making inroads into Asia with its suite of interest rate derivatives

As jurisdictions worldwide move away from the use of interbank offered rates (Ibors) by 2021 toward the adoption of risk-free rates (RFRs), Canada has also made significant contributions to domestic and international benchmark reforms. The enhancements to the Canadian overnight repo rate average (CORRA) was a result of such an effort, which positions Canada as one of the jurisdictions to have embarked on the transition from survey-based to transaction-based reference rate benchmarks.