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September 17, 2021

Refinitiv designated benchmark administrator for the Canadian Dollar Offered Rate

Ontario Securities Commission and Autorité des marchés financiers announce Refinitiv as the designated benchmark administrator for the Canadian Dollar Offered Rate

TORONTO – Refinitiv today announced that, pursuant to a decision dated September 15, 2021, the Ontario Securities Commission (OSC) and Autorité des marchés financiers (AMF) have designated the Canadian Dollar Offered Rate (CDOR) as a designated benchmark and Refinitiv Benchmark Services (UK) Limited (RBSL) as its designated benchmark administrator under Multilateral Instrument 25-102 Designated Benchmarks and Designated Benchmark Administrators (MI 25-102).

The securities regulatory authorities of British Columbia, Alberta, Saskatchewan, Ontario, Québec, New Brunswick and Nova Scotia (members of the CSA) adopted MI 25-102 to establish a Canadian regulatory regime for financial benchmarks. MI 25-102 came into force on July 13, 2021.

As a domestically important benchmark in Canada, CDOR has been designated as a "critical benchmark" and as an "interest rate benchmark". For the purposes of MI 25-102, the OSC and AMF are co-lead regulators of RBSL and CDOR in Canada. CDOR continues to be a FCA regulated benchmark in the United Kingdom under the UK benchmark regulation.

Brandon Meneguzzi, Compliance Director, Refinitiv, said: “CDOR is an important interest rate benchmark in both the Canadian and international financial markets and Refinitiv welcomes its recognition as a critical benchmark. This designation by regulators belonging to the Canadian Securities Administrators will enhance confidence in CDOR as a robust and transparent benchmark.”

Refinitiv has over 25 years’ experience designing, calculating, governing, administering and publishing financial benchmarks that lie at the heart of the global financial system.  For more information about Refinitiv benchmarks, visit: https://www.refinitiv.com/en/financial-data/financial-benchmarks.

About Refinitiv

Refinitiv, an LSEG (London Stock Exchange Group) business, is one of the world’s largest providers of financial markets data and infrastructure. With $6.25 billion in revenue, over 40,000 customers and 400,000 end users across 190 countries, Refinitiv is powering participants across the global financial marketplace. We provide information, insights, and technology that enable customers to execute critical investing, trading and risk decisions with confidence. By combining a unique open platform with best-in-class data and expertise, we connect people with choice and opportunity – driving performance, innovation and growth for our customers and partners. For more information visit: www.refinitiv.com

Contacts

Lemuel Brewster
Refinitiv, London Stock Exchange Group
Communications Director
Mobile +1 (917) 805-1089
Lemuel.brewster@refinitiv.com