TMX Group and Clearstream Announce Bank of Canada to Utilize the Canadian Collateral Management Service

TMX Group Limited (TMX Group) and Clearstream  Banking S.A. (Clearstream), the international central securities depository of Deutsche Börse Group, are pleased with the Bank of Canada’s decision to utilize the Canadian Collateral Management Service (CCMS). 

Developed by TMX Group and Clearstream, the CCMS facilitates the optimization and collateralization of securities finance activities throughout the Canadian market. The CCMS provides exclusive domestic tri party repo capabilities to increase repo market liquidity. 

The CCMS streamlines and simplifies end-to-end domestic collateral management activities, thereby unlocking trapped collateral and improving collateral mobility for repo, securities lending and margin for derivatives activities. 

The participation of the central bank in domestic tri-party operations is both a globally accepted standard and a key facilitator for the broader market. The Bank of Canada joining the CCMS is a significant step towards further strengthening Canada’s financial markets ecosystem and aligning to global standards. 

Toni Gravelle, Deputy Governor, Bank of Canada, said: “The Bank of Canada is pleased to join the  CCMS. Once we’ve updated our IT systems to onboard the new platform, the CCMS will enable us to  execute our market operations with greater speed and flexibility.”

Marton Szigeti, Head of Collateral, Lending & Liquidity Solutions at Clearstream, commented: “Since its  launch in 2024, the CCMS has developed to be the go-to service for tri-party collateral management in Canada. The Bank of Canada deciding to join the service underlines its strategic significance for the  stability, efficiency and innovative power of the country’s capital markets.”

Steve Everett, Head of Post Trade Innovation, TMX Group, said: “We are delighted that the Bank of  Canada is joining the CCMS. This milestone modernizes, strengthens and standardizes the entire secured funding ecosystem improving market resilience, risk management and collateral mobility at scale.”