Listing cessation for Three-Month Canadian Bankers’ Acceptance Futures (BAX)

Pursuant to Advisory Notice A22-009 and in preparation for the cessation of CDOR¹, the Montréal Exchange wishes to inform its market participants that it will not list any additional BAX expiries (inclusive of serial and quarterly contracts) going forward.

BAX expiries currently listed will continue to be available for trading until a conversion date² is announced by the Montréal Exchange as of which outstanding BAX positions in post-June 2024 contracts would be converted into equivalent Three-Month CORRA Futures (CRA) contracts. A summary of the remaining active BAX contracts is provided in the table below:

Further, considering the aforementioned listing cessation and the transition efforts from BAX to Three-Month CORRA Futures, the Montréal Exchange also confirms that it will cease the listing of additional Options on Three-Month Canadian Bankers' Acceptance Futures, inclusive of regular quarterly options (OBX), serial mid-curve options (OBW), as well as one-year (OBY) and two-year (OBZ) quarterly mid-curve options going forward.

To ensure a seamless transition from CDOR to CORRA and in line with the growing adoption efforts, the Montréal Exchange continues to encourage a proactive positioning from participants towards Three-Month CORRA Futures contracts (CRA).

For additional information on this notice, or if you require technical assistance, please do not hesitate to contact us using the contact information below.

Regards,

Market Operations Department
Toll-free: 1-888-693-6366
Local: 514-871-7871
Email: Monitoring@tmx.com

¹ CDOR Cessation - RBSL issues Canadian Dollar Offered Rate Cessation Notice

² More details on the conversion date and procedure for outstanding BAX contracts will be announced later this year.

The information contained in this document is for information purposes only and shall not be construed as legally binding. This document is a summary of the product's specifications which are set forth in the Rules of Bourse de Montreal Inc. ("Rules of the Bourse"). While Bourse de Montreal Inc. endeavors to keep this document up to date, it does not guarantee that it is complete or accurate. In the event of discrepancies between the information contained in this document and the Rules of the Bourse, the latter shall prevail. The Rules of the Bourse must be consulted in all cases concerning product's specifications.

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