TMX Group and Clearstream Banking Set to Launch Canada’s First Domestic Triparty Repo Capability

TMX Group Limited and Clearstream Banking S.A., part of Deutsche Börse Group, have announced plans to introduce an automated Canadian Collateral Management Service (CCMS), including the first domestic triparty repo capability in Canada. Developed collaboratively, the CCMS aims to provide a customised mobility and liquidity solution for Canada’s secured finance industry, with the new service enabling clients to meet the continuously evolving collateral demands of current markets.

Scheduled for launch in Q3 2023, the CCMS is intended to optimise and collateralise securities finance activities across the Canadian market. Initially, the CCMS will cater to participants in Canada’s secured funding market, enhancing transaction cycle efficiency. Additionally, it will facilitate the industry’s shift to a T+1 settlement cycle for Canadian and US markets in 2024, boosting efficiency and collateral mobility while reducing operational risk.