CDS announces proposed changes to procedures and rules
CDS Clearing and Depository Services (CDS) announced the proposed termination of the Euroclear UK Direct Service last week to reduce operating costs and avoid the projected costs of an anti-money laundering compliance program. CDS also proposed making changes to the form used for participants applying to act as an ISIN activator, security validator or custodian of CDSX eligible securities. The form changes would limit the application to domestic custodians and remove the requirement for Board approval of such applications.
Comments on the proposed amendments are being accepted for 30 calendar days for today's publication in the OSC Bulletin.
