Each contract shall be for a nominal value of C$5,000,000.

The four nearest calendar months.

Index: 100 minus the monthly average overnight repo rate for the contract month.

Last business day of the contract month. The contract is cash settled against the monthly average of the daily overnight repo rate for the contract month. The daily overnight repo rate (CORRA) is calculated and reported by the Bank of Canada. The monthly average is a simple arithmetic average corresponding to the sum of the daily overnight repo rates divided by the number of calendar days in the month. Weekend and holiday rates are considered to be the rate applicable on the previous business day for which a rate was reported. For example, Friday's rate is used for Saturday and Sunday rates. The final settlement price is determined on the first business day following the last day of trading.

Cash settlement.

0.005 = C$20.55 (one-half of 1/100 of one percent of C$5,000,000 on a 30-day basis).

300 contracts.

• Early session: A limit based on a risk percentage established by the clearing corporation and margin requirements, which both can change periodically.
• Regular session: None.
• Curb trading session: A trade may not take place at a price that is outside of the high and low of the day, except for contrats that have been settled outside of their high-low range of the day, in which case, trades may occur only at the settlement price.

• Early session: 6:00 a.m. to 7:45 a.m.
• Regular session: 8:00 a.m. to 3:00 p.m.
• Curb trading session: The curb trading session begins once settlement prices have been determined and ends at 4:00 p.m.