08:44 AM EDT, 04/30/2024 (MT Newswires) -- TMX Group ( TMXXF ) on Tuesday launched the Canadian Collateral Management Service (CCMS), the first domestic tri-party repo capability in the Canadian market

Developed by TMX Group ( TMXXF ) and Clearstream, CCMS provides exclusive domestic tri-party repo capabilities to increase liquidity and minimize exposure risk. CCMS will help market participants solve legacy technical challenges and operational limitations by automating the end-to-end lifecycle of a repo trade.

Tri-party repos are an investment alternative for market participants seeking to increase liquidity and manage risk exposure, TMX said. This will be especially important when Banker's Acceptances (BAs) end, following the cessation of the Canadian Dollar Offer Rate (CDOR) on June 28 this year.

BMO, CIBC, RBC, Scotiabank and TD participated in the first live transactions.

TMX Group ( TMXXF ) operates the Toronto Stock Exchange and key Canadian post-trade infrastructure including the Canadian Depository for Securities. Clearstream Banking operates the international central securities depository of Deutsche Borse Group.