CDS Rule Amendment Notice - Technical Amendments to CDS Rules Relating to Alignment with AMF Recognition Decision

CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS^®)

TECHNICAL AMENDMENTS TO CDS RULES

RELATING TO ALIGNMENT WITH AMF RECOGNITION DECISION

NOTICE OF EFFECTIVE DATE

A. DESCRIPTION OF THE PROPOSED AMENDMENTS

Under its corporate restructuring initiative, CDS became subject to the revised l'Autorité des marchés financiers ("AMF") Decision 2006-PDG-0180 ("Decision"), made effective on November 01, 2006. In order to align the description of CDS's status in Quebec as stated in the CDS Participant Rules ("Rules") with the AMF Decision, it is proposed that CDS's Rules be amended.

The Rules marked for the proposed amendments may be accessed on the CDS website at: http://www.cds.ca/cdsclearing home.nsf/Pages/-EN-Participantrules?Open.

B. REASONS FOR TECHNICAL CLASSIFICATION

The amendments proposed pursuant to this Notice are classified as "technical/housekeeping" as they involve only amendments required to ensure consistency or compliance with an existing rule, securities legislation or other regulatory requirement.

C. EFFECTIVE DATE OF THE RULE

Pursuant to (1) Appendix A ("Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC") of the OSC Recognition and Designation Order, as amended November 01, 2006 and (2) 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 November 01, 2006, CDS has determined that these amendments will be effective on October 30, 2007.

D. QUESTIONS

Questions regarding this notice may be directed to:

Jamie Anderson

Managing Director, Legal

CDS Clearing and Depository Services Inc.

85 Richmond Street West

Toronto, Ontario M5H 2C9

Fax: 416-365-1984

e-mail: [email protected]

TOOMAS MARLEY

Chief Legal Officer