LSEG Data & Analytics will distribute CanDeal DNA pricing information via a new partnership.
CanDeal Data & Analytics (DNA), a provider of Canadian over-the-counter (OTC) fixed income and derivatives pricing, will be making CanDeal DNA Consensus Overnight Index Swap (OIS) and Swap Rates information available via LSEG Data & Analytics, which will serve as the distributor.
The new partnership “is an extension of CanDeal’s collaborative efforts with the Bank of Canada and the Canadian Alternative Reference Rate Working Group (CARR) as the market transitions away from CDOR [Canadian Dollar Offered Rate] to the new Term CORRA [Canadian Overnight Repo Rate Average] benchmark,” according to the announcement.
CanDeal DNA officials publish statistics and analysis resulting from the transition to Term CORRA in “our CanDeal Observations bulletin available at candeal.com,” officials say.
“The CanDeal Consensus CAD OIS (CORRA) Rates product is designed to provide market transparency in the OIS swap curve for out to two years, while the CanDeal Consensus CAD Swap (CORRA) Rates product provides rates from two to 30 years,” according to CanDeal. Each rate represents the market rate for the fixed leg of a swap where the floating leg references CORRA).
“The cessation of the CDOR benchmark has been a turning point for the financial industry,” say Andre Craig, president of CanDeal DNA, a division of CanDeal Group, a leading provider of an electronic marketplace and data services for Canadian dollar debt securities and derivatives.
CanDeal Group provides an electronic marketplace and data services for Canadian dollar debt securities and derivatives. CanDeal Markets offers access to liquidity for Canadian government, agency, provincial, and corporate bonds, money market instruments, and interest rate swaps.
Officials say CanDeal DNA offers dealer-sourced OTC content for pricing, analytics, and reference data to industry market participants, vendor channels, and solution providers.
CanDeal Benchmark Administration Services is an independent business unit that administers Term CORRA
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