CDS Requests Comments on Participant Collateral and Funding Requirements relating to DTC Direct Link and New York Link Services

Posted on August 14, 2009

As previously announced by CDS Clearing and Depository Services (CDS) effective November 1, 2009, CDS sponsored participants of the New York Link Service will be subject to expanded collateral requirements. CDS is proposing amendments that will require New York Link service participants to pledge additional collateral to CDS and require both New York Link and DTC Direct Link participants to post collateral to support newly created participant funds for each of these services. The amendments also clarify the process by which New York Link and  DTC Direct Link participants can comply with the new collateral and funding requirements.  

As CDS is subject to DTC's firm deadline of November 1, 2009, the proposed amendments have been published for a 30-day comment period. 

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Canadian Securities Law Online - September 22, 2009 10:12 AM
As previously announced by CDS Clearing and Depository Services (CDS), effective November 1, 2009, CDS sponsored participants of the New York Link Service will be subject to expanded collateral requirements. On August 14, CDS proposed amendments that w...
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