The launch of Term CORRA supports Canada’s financial industry transition to a new risk-free, transaction-based benchmark. The CanDeal/TMX Term CORRA benchmark is a forward-looking term rate derived from transactions and executable bids and offers from CORRA interest rate futures traded on the Montréal Exchange. Term CORRA is calculated by CanDeal Benchmark Administration Services and exclusively licensed and distributed by TMX Datalinx. The benchmark will be pursuant to MI (Multilateral Instrument) 25-102 and will be designated by securities regulators the Ontario Securities Commission (OSC) and the Autorité des marchés financiers (AMF) as an Interest Rate Benchmark.
CanDeal/TMX Term CORRA approved Use Cases may be updated, amended, supplemented, replaced, restated or otherwise modified from time to time by CanDeal Benchmark Administration Services and posted on links below.
https://www.candeal.com/en/benchmarks/public-notices
For more information visit
Bank of Canada Market Notice
https://www.bankofcanada.ca/2023/01/carr-announces-development-term-corra-benchmark
Term CORRA CARR Methodology
Disclaimer
The Term CORRA benchmark (“Term CORRA”) is calculated, administered and made available by CanDeal Benchmark Administration Services Inc. (“CanDeal”) and distributed by TSX Inc. (“TSX”, “we”, “us” or “our”).
The provision of Term CORRA does not constitute legal, financial, professional, or other advice.
If you wish to obtain a real time or same day version of Term CORRA, you will require a licence from TMX Datalinx, the information services division of TSX. You may contact TMX Datalinx regarding a licence at marketdata@tmx.com.
None of CanDeal, TSX, their respective affiliates, nor any of their or their affiliates’ directors, officers, employees or agents (collectively the “Disclaiming Parties”) makes any warranty, condition, guarantee or representation, express or implied, with respect to the Term CORRA benchmark (“Term CORRA”) or the results to be obtained by any use of Term CORRA, and all such terms are expressly disclaimed. Each Disclaiming Party expressly disclaims all warranties and conditions of merchantability and fitness for a particular purpose or use, satisfactory quality and non- infringement with respect to Term CORRA. No Disclaiming Party shall be liable in respect of the accuracy or the completeness of Term CORRA and none of the Disclaiming Parties shall have any liability for any errors, omissions, delays or interruptions in providing Term CORRA.
No Disclaiming Party shall be responsible or liable for any loss, cost, liability, claim, interest, fine, penalty, assessment, taxes, damages available at law or in equity, expense costs, fees and expenses of legal counsel or diminution in value that you or any other person (including, without limitation, anybody accessing Term CORRA through you) suffers or incurs as a result of your or such person’s use of or reliance on Term CORRA (including, without limitation, as a result of decisions relating to the sale or purchase of instruments or legal, compliance or risk management decisions), whether arising in contract, tort (including negligence), strict liability, breach of statutory duty, contribution or otherwise. Without limiting any of the foregoing, in no event shall any Disclaiming Party have any liability for any loss of profit, loss of or anticipated loss of revenue, loss of use, business interruption, loss of use of any equipment, loss of any contract or other business opportunity or goodwill or indirect, punitive, special, incidental, consequential or exemplary damages, even if advised of the possibility of such losses or damages and whether such losses or damages otherwise would have been foreseeable.
CanDeal, its respective affiliates, and any of its or its affiliates’ directors, officers, employees or agents are express third-party beneficiaries of, and will have the right to enforce on its own behalf, all of the terms set out herein.
