CDS Rule Amendment Notice - Technical Amendments to CDS Application for Participation - ATON

THE CANADIAN DEPOSITORY FOR SECURITIES LIMITED (CDS)

TECHNICAL AMENDMENTS TO CDS APPLICATION FOR PARTICIPATION

NOTICE OF EFFECTIVE DATE

A. DESCRIPTION OF THE RULE AMENDMENT

Background

CDS has proposed rule amendments that will create a new category of participants for the purpose of accessing the Account Transfer Online Notification ("ATON") service. To facilitate the application process for prospective ATON participants, CDS has proposed amendments to its Application for Participation.

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

http://www.cds.ca/applications/webforms/onlineforms.nsf/PublishedByDocID/61F27A957E48916C8525701100715FCE

Description of Proposed Amendments

The proposed amendments update the instructions for completing the Application for Participation for the new limited purpose participant category "ATON Participant". Checkboxes have been added as appropriate to various schedules to the Application for Participation to indicate the selections for the ATON service. Similar housekeeping changes have been made for the TA Participant category in the Application for Participation.

Additionally, as the ACCESS service is no longer offered by CDS, references to ACCESS in the Application for Participation have been removed. Furthermore, as CDS no longer requires a foreign institution to provide a guarantee or irrevocable letter of credit under its rules, reference to such has been removed from the Application for Participation.

B. REASONS FOR TECHNICAL CLASSIFICATION

The amendments related to ATON and foreign institutions proposed pursuant to this Notice are considered technical amendments as they are consequential amendments intended to implement a material rule that has been published for comment pursuant to the "Rule Protocol Regarding The Review And Approval Of CDS Rules By The OSC" and only contain material aspects already contained in the material rule or disclosed in the notice accompanying the material rule.

The amendments related to the ACCESS service and TA Participant proposed pursuant to this Notice are considered technical amendments as they concern 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 varied and restated, these amendments will be effective on April 27, 2006.

D. QUESTIONS

Questions regarding this notice may be directed to:

Jamie Anderson

Senior Legal Counsel

The Canadian Depository for Securities Limited

85 Richmond Street West

Toronto, Ontario M5H 2C9

Telephone: 416-365-3876

Fax: 416-365-1984

e-mail: [email protected]