Central Banking

Canadian deputy encourages use of derivatives central counterparty

agathecote-canada

Agathe Côté, a Bank of Canada deputy governor, yesterday urged greater participation in the Canadian Derivatives Clearing Service (CDCS), the central counterparty for the country's fixed-income repo market.

Côté told an audience in Montreal that most Canadian repo trades involve a counterparty that does not use the CDCS. Thus the service will be unable to "materially increase" the proportion of the repo market it serves without first "capturing a broader set of participants".

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