Variation 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 December 20, 2016 (Order) varying the current recognition order of CDS Ltd. and CDS Clearing (collectively, CDS) to reflect CDS Clearing's amalgamation with its wholly-owned subsidiary, CDS Securities Management Solutions, Inc. (Amalgamation). The Commission also approved pursuant to section 4.6 of Schedule "B" Terms and Conditions of the CDS's Recognition Order changes to CDS Clearing's constating documents due to the Amalgamation.

The Order is published in Chapter 2 of this Bulletin.