(January 8 – 11:00 ET) -Telerate, Inc., a subsidiary of Bridge Information Systems, has been selected by the Primary Dealer Money Market Committee of the Investment Dealers Association to be the official collector, calculator, and distributor of the 10:00 a.m. Canadian Bid Rates of banker’s acceptances and Treasury bills

After an in-depth vendor review, Telerate was chosen to collect daily money market rates from the eight financial institutions that make active two-way markets in bankers’ acceptances and Treasury bills.

“Performing Inter-Bank rate services is a long-time strength of Telerate,” said Mary Ivaliotis, chief operating officer, Telerate. “As the current calculator and distributor of European Inter-Bank Offered Rates rates, London Inter-Bank Offered Rates, Prague Inter-Bank Offered Rates and Singapore Inter-Bank Offered Rates rates as well, we are pleased to be recognized as a global source for superiority in the financial services industry.”

Telerate conducts the survey each business day at 10:00 ET and distributes the results at 10:15 ET to interested information providers. The firms currently involved in active two-way markets include BMO Nesbitt Burns, Scotia Capital Inc., RBC Dominion Securities, TD Securities Inc., National Bank Financial, CIBC World Markets, Merrill Lynch Canada, and HSBC Bank Canada.

“We are pleased that our Telerate affiliate has been chosen by the IDA to manage a recognized benchmark index for bankers’ acceptances in Canada,” added Bashar Al-Rehany, president, BRIDGE Canada. “Today’s announcement further reaffirms our position as a leading supplier of complete global money markets coverage.”
-IE Staff