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Thomson Reuters to oversee key Canadian benchmark rates Add to ...

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Thomson Reuters Corp. has been hired to administer two key Canadian benchmark rates, a move designed to shore up confidence in the country’s capital markets in the wake of a global interest rate scandal.

After major global banks were fined billions of dollars for manipulating the London interbank offered rate (Libor), a benchmark rate used to priced trillions of dollars worth of securities, Canadian regulators initiated a review to ensure its domestic equivalent wasn’t susceptible to the same manipulation.

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