Industry

OSC STAFF NOTICE OF COMMISSION APPROVAL

CDS CLEARING AND DEPOSITORY SERVICES INC.

MATERIAL AMENDMENTS TO CDS RULES -- REAL TIME CNS SETTLEMENT

In accordance with the Rule Protocol between the Ontario Securities Commission (Commission) and CDS Clearing and Depository Services Inc. (CDS), the Commission approved on July 12, 2011, amendments filed by CDS to its rules relating to the real time CNS settlement. The amendments eliminate the current intraday CNS process (that runs in four cycles) which processes outstanding trade positions that were not settled on the night of T+2 with a new real time CNS cycle. A copy and description of the rule amendments were published for comment on May 6, 2011 at (2011) 34 OSCB 5359. No comments were received.