Luc Fortin: CORRA Futures Debut at Montreal Exchange

Thom Thompson

Thom Thompson

Editor

JLN spoke to Luc Fortin, president of TMX’s Montreal Exchange, about its newest short term interest rate product, CORRA futures, which launched in June. CORRA is calculated by the Bank of Canada from transaction-level overnight repo rates. CORRA represents Canada’s move away from using interbank offer rates as interest rate benchmarks.

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