CDS Rule Amendment Notice - Technical Amendments to CDS Procedures Relating to Euroclear UK Direct Participant Procedures

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

TECHNICAL AMENDMENTS TO CDS PROCEDURES

EUROCLEAR UK DIRECT PARTICIPANT PROCEDURES

NOTICE OF EFFECTIVE DATE

A. DESCRIPTION OF THE RULE AMENDMENT

Background

In August 2007, CDS's regulators approved amendments to CDS Participant Rules relating to CDS's Euroclear UK Direct Service (the "Service"). At that time, CDS also published a Notice of Effective Date in respect of technical amendments to CDS Participant Procedures relating to the use of the Service.

The proposed amendments are housekeeping, grammatical, and typographical in nature and are proposed in the normal course of CDS's ongoing maintenance of its Participant Procedures.

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 francais: http://www.cds.ca/cdsclearinghome.nsf/Pages/-FR-Documentation?Open]

Description of Proposed Amendments

The CDS User Guide entitled Euroclear UK Direct Service Participant Procedures will be amended to clarify and correct several typographical and grammatical mistakes contained in the current version of the User Guide.

B. REASONS FOR TECHNICAL CLASSIFICATION

The amendments proposed pursuant to this Notice are considered technical amendments; they consist solely of the correction of spelling, punctuation, typographical or grammatical mistakes.

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 January 7, 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: [email protected]

JAMIE ANDERSON

Managing Director, Legal