Bank of Canada Taps CanDeal Data & Analytics for Fixed Income Securities Pricing
CanDeal Data & Analytics (DNA) has announced a multi-year agreement with the Bank of Canada to provide its Reference Pricing service for Canadian fixed income securities. The Bank will use this data for operational activities, market analysis, research, policy development, and risk management.
The CanDeal DNA Reference Pricing service provides comprehensive and accurate dealer-sourced OTC content for pricing, analytics, and reference data. This data will support the Bank's monetary policy, financial system, and funds management functions, particularly in connection with the Canadian Collateral Management Service (CCMS).
According to Phillipe Muller, Senior Director of the Bank of Canada's Markets and Banking Department, 'The Bank's use of the CCMS tri-party service will improve the efficiency and scalability of its collateral management and liquidity provision operations, particularly during periods of severe market-wide stress.'