CDS's participant committees are effective forums for the financial community to evaluate and prioritize CDS’s development and enhancement activities on behalf of the industry.
There are four categories of membership:
Regulated Financial Institution
Participants in this category are regulated under Canadian law and include financial institutions, brokers or dealers trading in securities, insurance companies and securities clearing corporations or depositories. As a minimum, these participants must be incorporated and in compliance with all applicable regulations and meet minimum capital requirements and financial stability standards.
This category encompasses participants that are regulated by laws other than Canada's. It includes brokers or dealers trading securities, banks or savings banks, loan companies or corporations, insurance companies, securities clearing corporations or depositories, central banks or any other body trading in securities.
The government of Canada, provincial or municipal governments or their agents.
Bank of Canada
The central bank of Canada is a key member of CDS.
Participant rights and responsibilities
When approved to participate in one or more services -- equity, debt, money market -- participants earn certain privileges, enter into relationships with other participants and commit to certain obligations.
Participants must follow procedures and user guides for the services they use. The rules govern such issues as the privileges and obligations of participants, legal jurisdiction of transactions and equitable allocation of risks among users of the services.