CDS Rule Amendment Notice - Technical Amendments to CDS Procedures Relating to International Services Procedure

CDS CLEARING AND DEPOSITORY SERVICES INC. ("CDS")

TECHNICAL AMENDMENTS TO CDS PROCEDURES

INTERNATIONAL SERVICES PROCEDURES

NOTICE OF EFFECTIVE DATE

A. DESCRIPTION OF THE RULE AMENDMENT

Background

CDS' International Message Hub ("IMHub"), which is intended to be implemented on 27 November 2006, facilitates the exchange of SWIFT messages in an ISO 15022 compliant format between CDS and the international organizations with which CDS has operating agreements. The IMHub is intended to streamline the current links with Euroclear France, SEB, and JASDEC, and will simplify the establishment of connections and links with other foreign depositories, as the need arises.

Description of Proposed Amendments

The existing procedure documents entitled Euroclear France Link Participant Procedures and JSSC Link Participant Procedures will be redacted. Procedures relating to the aforementioned international links will, effective 27 November 2006, be contained in the document entitled International Services Procedures.

The blacklined versions of these amendments may be found at the following URL:

http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-UserDocumentation?Open

B. REASONS FOR TECHNICAL CLASSIFICATION

The amendments proposed pursuant to this Notice are considered by CDS to be technical amendments; they are consequential amendments intended to implement a material rule that has been published for comment.

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 amended on 1 November, 2006, CDS has determined that these amendments will be effective on 27 November 2006.

D. QUESTIONS

Questions regarding this notice may be directed to:

Tony Hoffmann

Legal Counsel

CDS Clearing and Depository Services Inc.

85 Richmond Street West

Toronto, Ontario M5H 2C9

Telephone: 416-365-3768

Fax: 416-365-1984

e-mail: [email protected]