As part of an ongoing effort to improve transparency in the Canadian debt markets, the Investment Industry Regulatory Organization of Canada (IIROC) will begin publishing transaction-based Bankers’ Acceptance (BA) rates in January 2019, the self-regulatory organization (SRO) announced Tuesday.
IIROC will publish one- and three-month BA rates on its website on a delayed basis.
The rates will be based on trading data reported through IIROC’s Market Trade Reporting System (MTRS 2.0).
The calculation methodology will be released in early December, IIROC says in a news release.
The BA rates published by IIROC will replace the rates currently published by the Bank of Canada. Back in May, the SRO also took over publication of debt statistics from the central bank.
The publication of BA rates “is another step” in its efforts to further enhance the transparency of the Canadian debt market, IIROC says.
“This most recent change is part of IIROC’s and the Bank’s objective of improving the quality and reliability of published debt market securities data,” says Victoria Pinnington, senior vice-president, market regulation, at IIROC. “We are pleased to continue collaborating with the Bank of Canada, leveraging the data already being collected by IIROC for regulatory purposes and strengthening our mandate to increase market transparency and integrity.”