Notice of Commission Approval - Material Amendments to CDS Rules Relating to the FINet Function

Market Regulation Document Type
Canadian Depository for Securities Limited (CDS) rule review

CDS CLEARING AND DEPOSITORY SERVICES INC.

MATERIAL AMENDMENTS TO CDS RULES

FINet Function

NOTICE OF COMMISSION APPROVAL




n accordance with the Rule Protocol between the Ontario Securities Commission (Commission) and CDS Clearing and Depository Services Inc. (CDS), the Commission approved on March 13, 2009, amendments filed by CDS to its rules to replace its current fixed income netting and central counterparty Function, currently known as “DetNet®”, with a new Function named “FINet™”. The original notice published for comment stated that eligible securities in FINet would also include federally guaranteed corporate debt. CDS has decided to remove federally guaranteed corporate debt from its list of eligible securities. Making such securities eligible for FINet would require significant systems changes to CDSX that are not within the scope of the FINet initiative. A copy and description of these amendments were published for comment on December 12, 2008 at (2008) 31 OSCB 11933. No comments were received.