FCCS News & Insights

Passkey Announces Partnership with TMX Group to Provide Access to Term CORRA Benchmark Across the Farm Credit System

Passkey—powered by FCCS—is pleased to announce a new partnership with TMX Group, the parent company of the Toronto Stock Exchange and a global leader in financial markets infrastructure. Through this agreement, FCCS has contracted with TMX Group to provide Farm Credit institutions system-wide access to the Term CORRA benchmark.

By structuring this agreement at scale, we are ensuring that the entire Farm Credit System benefits from preferred access while avoiding duplicative costs. This collaborative approach not only strengthens operational efficiency but also delivers significant cost savings across the System.

The Canadian Overnight Repo Rate Average (CORRA) and its forward-looking Term CORRA benchmark are essential reference rates used in financial markets, particularly in lending and risk management. With this new partnership, Farm Credit institutions can confidently access these benchmarks through TMX Group’s distribution channels, supporting consistency, transparency, and efficiency across the System.

This initiative reflects the commitment of Passkey and FCCS to delivering System-wide value by negotiating innovative solutions that benefit every Farm Credit institution we serve.

For more information, contact Passkey Program Director, [email protected].