Notice of Commission Approval – Material Amendments to CDS Rules – Termination of Euroclear UK Direct Service – CDS Clearing and Depository Services Inc.

    
In accordance with the Rule Protocol between the Ontario Securities Commission ("Commission") and CDS, the Commission approved on July 23, 2010 amendments filed by CDS to its rules relating to the Termination of Euroclear UK Direct Service (Euroclear Service).

Summary of Material Rule

A copy and description of the rule amendments were published for comment on May 14, 2010 at (2010) 33 OSCB 4537. No public comments related to the rule amendments were received by the Commission or CDS.

The rule amendments remove references to the Euroclear Service from the CDS Participant Rules. The deleted sections include the definitions of terms used in describing the Euroclear Service, and all of Rule 14, which governs the Euroclear Service.

Revisions to the Material Rule

In consultation with its regulators, CDS has decided to make a non-significant revision to the proposed rule amendments that were published for comment to ensure consistency. The revision removes two additional cross-references to the Euroclear Service.

The additional non-significant revision to the rule amendments that were published for comment are provided in Appendix A.

APPENDIX "A"

PROPOSED CDS RULE AMENDMENTS