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Canada’s triparty repo launch aims to fill C$60bn void

Canadas triparty repo launch aims to fill C60bn void
Test trades on TMX/Clearstream platform represent “quantum leap” for creaking funding markets

The first trades on a new triparty repo platform have brought Canada a step closer to plugging a C$6o billion ($44 billion) gap left by the demise of the country’s antiquated corporate paper market.   

Canada’s five largest banks – BMO, CIBC, RBC, Scotiabank and TD Bank – completed the first repo trades on the Canadian Collateral Management Service (CCMS), a triparty platform created by TMX Group, Canada’s largest exchange operator, and Clearstream, a Deutsche Börse post-trade unit.

Triparty repo

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