Notice of Commission Approval – Amendments to CDS’ Outsourcing Agreement – Canadian Depository for Securities Limited

Pursuant to s. 11.1 of the Commission's order recognizing CDS Ltd. and CDS Clearing and Depository Services Inc. (CDS Clearing) as clearing agencies, CDS Ltd. and CDS Clearing are required to obtain prior Commission approval before entering into, or amending, any outsourcing arrangement related to, any of its key services or systems with a service provider.

On September 27, 2012, CDS Ltd. applied to the Commission for approval of amendments to its current Master Services Agreement (MSA), which is an outsourcing agreement with Tata Consultancy Services Canada Inc. (Tata). The amendments to the MSA (i) extend the expiry of the MSA for a period of two years from November 1, 2012 to October 31, 2014 and (ii) update the terms of the MSA as a result of the evolution of CDS Ltd.'s and Tata's commitments and responsibilities (collectively, the Amendments).

The Commission approved the Amendments on October 23, 2012.