Technical Amendments to CDS Procedures: Company Name Change (FMC to SS&C) on Service Eligibility Details -- Unit Functions Form (CDSX799) -- Notice of Effective Date
CDS CLEARING AND DEPOSITORY SERVICES INC. (CDS®)
TECHNICAL AMENDMENTS TO CDS PROCEDURES
COMPANY NAME CHANGE (FMC TO SS&C) ON SERVICE ELIGIBILITY DETAILS -- UNIT FUNCTIONS FORM (CDSX799)
NOTICE OF EFFECTIVE DATE
A. DESCRIPTION OF THE CDS PROCEDURE AMENDMENT
Background
CDS form CDSX799: Online Services Support -- Service Eligibility Details - Unit Functions, is used by participants to indicate to CDS its eligibility for a number of online services support. Among such online services is support for institutional trade processing (ITP), typically through a third-party virtual matching utility (VMU). The form lists several VMU choices identified by VMU name.
One of the VMUs listed on form CDSX799 is "FMC", in reference to FINANCIAL MODELS COMPANY INC. (FMC), a corporation which has since been acquired by SS&C TECHNOLOGIES, INC. (SS&C) [for further details see: http://www.sec.gov/Archives/edgar/data/1011661/000095013505001153/b53904ssexv2w1.htm].
Although the ITP system formerly operated by FMC is familiarly referred to as "FMC" or "FMCNet", SS&C has recently indicated to CDS that it wishes to change the "FMC" VMU listing on form CDSX799 to read "SS&C".
The CDS Procedures marked for the amendments may be accessed at the CDS website at:
http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-FormsOnline?Open
Description of Proposed Amendments
Revise CDS form CDSX799 to change the line under "Service Description" on that reads: ITP Service - FMC (VMU), to read: ITP Service -- SS&C (VMU).
CDS Procedure Amendments are reviewed and approved by CDS's Strategic Development Review Committee ("SDRC"). The SDRC determines or reviews, prioritizes and oversees CDS-related systems development and other changes proposed by participants and CDS. The SRDC's membership includes representatives from the CDS Participant community and it meets on a monthly basis.
These amendments were reviewed and approved by the SDRC on August 27, 2009.
B. REASONS FOR TECHNICAL CLASSIFICATION
The amendments proposed pursuant to this Notice are considered technical amendments as matters of a technical nature in routine operating procedures and administrative practices relating to the settlement services.
C. EFFECTIVE DATE OF THE CDS PROCEDURE AMENDMENT
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 the proposed amendments will become effective on a date subsequently determined by CDS, and as stipulated in the related CDS Bulletin.
D. QUESTIONS
Questions regarding this notice may be directed to:
George Chung
Manager, Customer Service Support
CDS Clearing and Depository Services Inc.
85 Richmond Street West
Toronto, Ontario M5H 2C9
Telephone: 416.365.8610
Fax: 416.365.0842
Email: [email protected]