Deutsche Bank Securities Ltd. is dropping out of the rating setting process for the financial benchmark known as the Canadian Dealer Offered Rate (CDOR).

The Investment Industry Regulatory Organization of Canada (IIROC) said Friday that Deutsche Bank Securities is withdrawing as a participant in the voluntary daily CDOR survey, effective January 31.

Earlier this month, the Office of the Superintendent of Financial Institutions (OSFI) said that Canadian regulators are planning new oversight for CDOR; despite the fact that they haven’t uncovered the same sort of market manipulation issues that have plagued other financial benchmarks. The new framework is to developed over the coming year.