Variation of Recognition Order – Canadian Depository for Securities Limited and CDS Clearing and Depository Services Inc.

The Ontario Securities Commission (Commission) issued an order pursuant to section 144 of the Securities Act (Ontario) on January 27, 2015 (Order) varying the current recognition order of CDS Ltd. and CDS Clearing to remove the requirement that CDS Ltd. provide to the Commission unaudited quarterly and audited annual financial statements of CDS INC., with the objective of maximizing efficiencies.

The Order is published in Chapter 2 of this Bulletin.