CDS Rule Amendment Notice - Technical Amendments to CDS Procedures - CDS Buy-in Windows

THE CANADIAN DEPOSITORY FOR SECURITIES LIMITED (CDS)

TECHNICAL AMENDMENTS TO CDS PROCEDURES

CDS BUY-IN WINDOWS

NOTICE OF EFFECTIVE DATE

A. DESCRIPTION OF THE RULE AMENDMENT

Background

The proposed amendments are made at the suggestion of CDS staff after consultation with the CDS Participant community. These consultations determined that a change to the current time windows to enter buy-ins would be beneficial to all affected parties.

The Procedures marked for the amendments may be accessed at the CDS website at:

http://www.cds.ca/cdshome.nsf/Pages/-EN-Documentation?Open

Description of Proposed Amendments

The proposed amendments will reduce the time window during which buy-ins may be made by CDS Participants and will afford Participants an additional 15 minutes to react to intents to buy-in placed against them.

For example, an entry made on Day 1 must be made between 4:00 p.m. and 4:45 p.m., Eastern Time in order for it to be executed on Day 3. Entries made between 5:00 p.m. and 7:30 p.m. Eastern Time will be executed on Day 4.

B. REASONS FOR TECHNICAL CLASSIFICATION

The amendments proposed pursuant to this Notice are considered technical amendments as they are matters of a technical nature in routine operating procedures and administrative practices relating to CDS 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 Recognition and Designation Order, as varied and restated, these amendments will be effective on May 8th, 2006.

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: [email protected]