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ARTICLE · 16 MAY 2012

CDS Proposes Amendments To Buy-In Process Functionality

Stikeman Elliott LLP
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The OSC today published a proposal to amend functionality of CDS' Continuous Net Settlement Service buy-in process.

CanadaFinance and Banking
The Securities Group
The Securities Group
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The OSC today published a proposal to amend functionality of CDS' Continuous Net Settlement Service buy-in process. Specifically, the changes would (i) allow the receiver (buyer) to select the specific deliverers (sellers) they wish to grant or deny extensions to; (ii) enhance the Deliverer Buy-in List screen to increase clarity of the status of buy-in extensions; and (iii) introduce a new option that will allow the receiver to instruct the system to automatically create repeat buy-ins.

According to CDS, the proposed amendments will provide processing efficiencies and management flexibility in the buy-in process. Comments on the proposals will be accepted for 30 days from today's publication.

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