CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS®)
TECHNICAL AMENDMENTS TO CDS PROCEDURES
DEPOSIT AND WITHDRAWAL MESSAGING PROCEDURES
NOTICE OF EFFECTIVE DATE
A. DESCRIPTION OF THE RULE AMENDMENT
Background
The proposed amendments to CDS Participant Procedures are made pursuant to a request from the CDS Strategic Development Review Committee. This request was for CDS to generate six new InterLink messages which will allow participants to submit security deposits and withdrawals without the need to enter the transactions directly into CDSX. This automation will reduce both the duplication of data entry done by Participants and the potential for keying errors.
Participants will not be required to use this functionality unless they wish to subscribe for these new messages and no changes to current procedures are contemplated as part of the proposed amendments.
The Procedures marked for the amendments may be accessed at the CDS website at:
http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-UserDocumentation?Open
[en français: http://www.cds.ca/cdsclearinghome.nsf/Pages/-FR-Documentation?Open]
Description of Proposed Amendments
The proposed amendments to Chapters 6 and 7 of the CDSX Procedures and User Guide consist of the addition of details related to the additional method for the submission of deposits and withdrawals to CDSX. As noted above, Participants may continue to submit such requests using current procedures – the proposed amendments are intended only to increase functionality to the benefit of Participants.
B. REASONS FOR TECHNICAL CLASSIFICATION
The amendments proposed pursuant to this Notice are considered technical amendments; they are matters of a technical nature in routine operating procedures and administrative practices relating to the settlement services.
C. EFFECTIVE DATE OF THE RULE
Pursuant to Appendix A (“Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC”) of the OSC Recognition and Designation Order, as amended 1 November, 2006, and Annexe A (“Protocole d’examen et d’approbation des Règles de Services de Dépôt et de Compensation CDS Inc. par l’Autorité des marchés financiers”) of AMF Decision 2006-PDG-0180, made effective on 1 November, 2006, CDS has determined that these amendments will be effective on February 4, 2008.
D. QUESTIONS
Questions regarding this notice may be directed to:
Tony Hoffmann
Legal Counsel
The Canadian Depository for Securities Limited
85 Richmond Street West,
Toronto, Ontario, M5H 2C9
Telephone: 416-365-3768; Fax: 416-365-1984
e-mail: attention@cds.ca
JAMIE ANDERSON
Managing Director, Legal
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