Notice of Commission Approval – Material Amendments to CDS Rules and Procedures – Mitigation of Procyclical Effects on Calculations of Equity Haircuts and the CNS Participant Fund Collateral Requirements – Introduction of a CNS Participant Default Fund – Settlement Agent Category Credit Rings – CDS Clearing and Depository Services Inc.

In accordance with the Rule Protocol between the Ontario Securities Commission (Commission) and CDS Clearing and Depository Services Inc. (CDS), the Commission approved on December 30, 2014 the following amendments:

• Amendments to CDS Procedures: Mitigation of Procyclical Effects on Calculations of Equity Haircuts and the CNS Participant Fund Collateral Requirements;
• Amendments to CDS Rules and Procedures relating to the Introduction of a CNS Participant Default Fund; and
• Amendments to CDS Rules and Procedures relating to the Settlement Agent Category Credit Rings.

A copy of the CDS notice was published for comment on November 20, 2014 on the Commission’s website at: http://www.osc.gov.on.ca. No comments were received.