What is CDOR?

Posted on 02/08/2021


CDOR stands for the Canadian Dollar Offered Rate. The Canadian Dollar Offered Rate is a daily benchmark for the Bankers’ Acceptance (BA) market. CDOR is published daily at 10:15am ET and individual contributions from panel banks are currently published at the same time as CDOR. CDOR is the executable rate for corporate borrowers with credit facilities with banks that reference CDOR.CDOR is widely used in interest rate swaps, floating rate notes, and other financial products.

5 Tenors

1. 1 Month
2. 2 Months
3. 3 Months
4. 6 Months
5. 12 Months

Refinitiv announced that the 6-month and 12-month CDOR tenors would cease to be published from May 17, 2021.

Calculation of CDOR

CDOR is calculated using contributed rates from a panel of 6 banks. At January 2021, the six banks are the Bank of Montreal (BMO), National Bank of Canada, Royal Bank of Canada (RBC), CIBC, Bank of Nova Scotia, and the Toronto-Dominion Bank. CDOR is administered in accordance with the EU benchmark regulation.

The benchmark is administrated by Refinitiv (now part of London Stock Exchange Group). Refinitiv came from the financial business of Thomson Reuters Corporation.

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