Canadian securities regulators encourage market participants to prepare for the cessation of CDOR

  • Securities - CSA Image

Feb 23, 2023

On February 23, 2023, the Canadian Securities Administrators (CSA) encouraged market participants to prepare for the upcoming cessation of the Canadian Dollar Offered Rate (CDOR).

CDOR is a domestically important interest rate benchmark that is used by market participants across a wide range of financial products and contracts, including derivatives, bonds and loans.

On May 16, 2022, Refinitiv Benchmark Services (UK) Limited (RBSL), the administrator of CDOR, announced that CDOR will cease publication after Friday, June 28, 2024. The Ontario Securities Commission and the Autorité des marchés financiers, as co-lead authorities for RBSL and CDOR, authorized the cessation.

The staff notice published provides market participants with information about certain developments and transition issues regarding the upcoming cessation, including the expected related cessation of the issuance of Bankers’ Acceptances.

Review the press release and staff notice.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.