OSC Staff Notice of Request for Comment – Material Amendments to CDS Procedures Related to Canadian Dollar Cash Collateral Management – CDS Clearing and Depository Services Inc.

The Ontario Securities Commission is publishing for 30 day public comment material amendments to the CDS Procedures relating to CDS’s Canadian dollar cash collateral management. The purpose of the proposed procedure amendments is to

i)              align CDS’s cash management policies with the expected changes in the size volatility and variability associated with collateral calls as a result of upcoming amendments to the CNS Default Fund methodology; and

ii)             enable CDS to comply with their banking arrangements with respect to certain withdrawal and deposit thresholds, notice periods and restrictions.

The comment period ends on September 16, 2017.

A copy of the CDS Notice is published on our website at http://www.osc.gov.on.ca.