TMX Group Limited and Clearstream Banking S.A. have jointly launched the Canadian Collateral Management Service (CCMS), introducing the first domestic tri-party repo capabilities in Canada. The service, aimed at optimising securities finance activities and increasing market liquidity, has already seen participation from major Canadian banks including BMO, CIBC, RBC, Scotiabank, and TD, marking the commencement of tri-party repo transactions in the country.
The CCMS will address various market challenges by automating the repo trade lifecycle and enhancing collateral management, with plans to expand services including corporate cash tri-party repo and securities lending, alongside the increased use of equities as collateral.
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