Bank of Canada has licensed technology from New York-based trading systems vendor OpenLink to support its public sector fiscal duties.
Under the deal, the central bank will deploy OpenLink's Findur product suite to support its role as the Canadian government's fiscal agent responsible for issuing foreign debt and investing the proceeds, which includes managing bond, money market, loan, foreign exchange and swap transactions.
Nick Close, Bank of Canada financial markets department advisor, says: "Findur's straight-through processing and operational risk mitigation capabilities were the key elements that led to our ultimate selection."