CDS Rule Amendment Notice - Technical Amendments to CDS Procedures - Payment Release Event List Screen Enhancement

CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS®)

TECHNICAL AMENDMENTS TO CDS PROCEDURES

PAYMENT RELEASE EVENT LIST SCREEN ENCHANCEMENT

NOTICE OF EFFECTIVE DATE

A.       DESCRIPTION OF THE AMENDMENTS

Background

The CDS Strategic Development Review Committee (“SDRC”) Entitlement subcommittee has requested the following enhancements to the Payment Release Event List screen.

Currently when a Paying Agent, or CDS acting as a Paying Agent, is releasing the payments on multiple entitlements, they navigate from the Payment Release Event List screen to each separate event. Upon returning to the Payment Release Event List screen, the Paying Agent is unable to determine quickly from the list which events they have already maintained (i.e. released payment for).

Two enhancements will be made to the Payment Release Event List screen:

• When a Paying Agent returns to the Payment Release Event List screen from the Release / Hold screen (Maintain and Inquiry functions), the cursor will be positioned on the last event that was accessed from the Payment Release Event List screen.
• Additionally, events that have not been released on the current date will be highlighted on the Payment Release Event List screen (Maintain and Inquiry functions) in order that the Paying Agent may quickly identify those events that still require a release payment to take place.

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

http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-blacklined?Open

Description of Proposed Amendments

The following procedures will be impacted by this initiative:

Depositary and Paying Agent Procedures:

• Chapter 2 Paying Agent Procedures, Section 2.3.1 and Section 2.4.1

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 the settlement 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 amended on November 1, 2006, and Annexe A (“Protocole d’examen et d’approbation des Règles de Services de Dépot et de Compensation CDS Inc. par l’Autorité des marchés financiers”) of AMF Decision 2006-PDG-0180, made effective on November 1, 2006, CDS has determined that these amendments will become effective on a date subsequently determined by CDS, and as stipulated in the related CDS Bulletin.

These amendments were reviewed and approved by the SDRC on September 25, 2008.

D.       QUESTIONS

Questions regarding this notice may be directed to:
 

Eduarda Matos
Legal Counsel
The Canadian Depository for Securities Limited
85 Richmond Street West
Toronto, Ontario M5H 2C9

Telephone: 416-365-3567
Fax: 416-365-1984
e-mail: [email protected]

JAMIE ANDERSON
Managing Director, Legal