COMMISSION APPROVAL TO CDS PROCEDURES
RELATING TO DORMANT PARTICIPANT PROCEDURES
Text of CDS Participant Procedures marked to reflect non-material revisions to previously published rule amendments |
Text CDS Participant Procedures reflecting the adoption of proposed amendment |
1.7 Dormant participants
Participants that decide to clear and settle trades through other CDS participants can change their status to dormant by paying an annual dormancy fee. This will maintain their status as a non-active participant. By paying the dormancy fee, participants who opt out of using CDS services for a fixed period of time can resume using CDS services without paying an additional membership fee.
Participants requesting a dormancy status should do so by sending a formal letter (on company letterhead) to CDS Customer Service.
If a dormant participant chooses to use a CDS service (excluding clearing, settlement, and depository services as defined in the CDS Participant Rules) during the dormancy period, the participant must pay the non-participant fee for that service.
Participants who want to become active again (i.e., self-clearing) must complete an Application for Participation and submit it to CDS Customer Service for board approval. |
1.7 Dormant participants
Participants that decide to clear and settle trades through other CDS participants can change their status to dormant by paying an annual dormancy fee. This will maintain their status as a non-active participant. By paying the dormancy fee, participants who opt out of using CDS services for a fixed period of time can resume using CDS services without paying an additional membership fee.
Participants requesting a dormancy status should do so by sending a formal letter (on company letterhead) to CDS Customer Service.
If a dormant participant chooses to use a CDS service (excluding clearing, settlement, and depository services as defined in the CDS Participant Rules) during the dormancy period, the participant must pay the non-participant fee for that service.
Participants who want to become active again (i.e., self-clearing) must complete an Application for Participation and submit it to CDS Customer Service for board approval. |
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