Post Trade Solutions That Meet Your Needs
CDS Clearing and Depository Services Inc. (CDS Clearing) is Canada’s Central Securities Depository, Equities clearing and settlement system, and Fixed Income Settlement system. We offer a full suite of securities clearing, settlement, and depository services to domestic and foreign financial services firms, including the following:
Depository
CDS Clearing offers a centralized safekeeping facility, allowing securities to be held in a dematerialized form, eliminating the risk related to holding physical financial securities.
Clearing & Settlement
CDS Clearing’s post trade services include both a Securities Settlement Service (SSS) and a Central Counterparty (CCP) Service, each of which operates to optimize the efficiency of the clearing and settlement of securities transactions.
Corporate Action / Entitlement Processing
In our role as CSD, CDS Clearing provides a centralized source for Canadian Corporate Action Information which enhances timely, accurate, and efficient notification and processing of corporate action events and the payment of entitlements.
Tax Withholding and Reporting
CDS Clearing provides tax withholding and tax reporting services on entitlement payments in both Canadian and US Dollars.
International Link with the US Depository
Enable seamless cross-border securities transfers and depository services.
Data Services
CDS Clearing provides the securities and transactional data via Files and real-time messages. Participants can elect to subscribe to additional data services according to their needs.
Several Participation Types Provide Flexible Solutions for Your Business
Full Participation
Access a full suite of Post Trade Depository and Clearing Services
- Trade Clearing and Settlement
- Book Entry Only - Dematerialized Security Positions
- Corporate Actions Event and Entitlement Payment Processing
- Tax Reporting
- Sponsorship into the US Depository (The Depository Trust & Clearing Corporation (DTCC)) for Cross-Border Services
- Support for Service Providers and 3rd party vendors
- Access to ISIN Issuance as the National Numbering Agency for Canadian Securities
- Support for Security Eligibility in CDS
Limited Participation
If your firm does not require the full suite of CDS Clearing participant Services, CDS Clearing also offers Participation types to match your needs and technological requirements, including:
Limited Purpose Transfer Agent Participation
A trust company, bank, or similar institution engaged by a corporation for the purposes of maintaining an Issuer’s books and records and managing an Issuer’s outstanding securities issuances.
Depositary Agency
A Depositary Agent acts as the receiver of securities and instructions when a shareholder must take action on distribution events with options, mandatory exchange events with options or voluntary events.
Limited Purpose Account Transfer Online Notifications (ATON) Participation
Access to CDS Clearing’s ATON Service enables the electronic transfer of client assets and funds between financial intermediaries.
Getting Started with Your Application for Participation
We look forward to working with you to identify the appropriate participation type for your organization and guiding your organization through the application process. Below is information that will help you assess your eligibility and provide insight into the application process.
Check Your Eligibility
Review the CDS Participant Rules, Rule 2.2 to confirm your eligibility for participation. You will need to assess these requirements against your organization’s needs and technology posture.
View RulesReview the CDS Financial Risk Model
The TMX-CDS Financial risk model safeguards security transactions in the Depository, settlement and Central counterparty services. It identifies, assesses, and mitigates potential risks to CDS and to Participants, ensuring smooth and secure operations.
View Risk ModelApplication Phases
Application and Fees
Our team is happy to meet with you to provide an overview of the application process and the necessary documentation requirements when you are ready.
Application Forms FeesApplication Submission
Complete the application form, gather all required documentation, and submit for review, along with the application fee.
Internal Review & Approval
We will review the documents to ensure compliance with regulatory requirements and established standards. Upon approval, you will be notified.
Additional Time and approvals are required for foreign clients.
System Integration / Technical Connectivity
Set up and connect your systems with TMX-CDS’s platform to prepare for testing. Identify standard file and message subscriptions. TMX-CDS will work with your business and technical contacts as we guide you through this process.
Technical GuidesTesting Prior to Moving to Production
Prior to setting a date to move into production, conduct testing in CDS test environments to train and ensure familiarity with the system’s general functionality, screen layout and navigation, and connectivity and transaction flows.
Go Live - Promotion to Production
Schedule a Go-live date to transition your setup to full integration with CDSX Production. Begin real-time operations with the ongoing support of a dedicated Relationship Manager.
A New CDSX is Coming!
TMX will be upgrading its core systems to enhance the user experience and further expand our services and processing capabilities in post-trade services.
TMX-Post Trade Innovations (PTI)
TMX PTI offers a variety of additional Post Trade services tailored to industry needs. Explore Post Trade Innovations below:
It all starts with a conversation
Contact us at NewCDSparticipant@tmx.com and we will be happy to assist you.
Margaret Reid
Director, Business Developmentand Strategic Client Engagement
Surabhi Sudhakara
Strategic Business Development Manager
Manisha Ramji
Head of Client Success
TMX Group Limited and its affiliates do not endorse or recommend any securities issued by any companies identified on, or linked through, this site. Please seek professional advice to evaluate specific securities or other content on this site. All content (including any links to third party sites) is provided for informational purposes only (and not for trading purposes), and is not intended to provide legal, accounting, tax, investment, financial or other advice and should not be relied upon for such advice. The views, opinions and advice of any third party reflect those of the individual authors and are not endorsed by TMX Group Limited or its affiliates. TMX Group Limited and its affiliates have not prepared, reviewed or updated the content of third parties on this site or the content of any third party sites, and assume no responsibility for such information.