Participant Committees

CDS receives input from participants and other customers into its plans for new and enhanced services through committees composed of CDS participant representatives. These committees are the Strategic Development Review Committee (SDRC); its Debt and Equity, Entitlements and Corporate Actions subcommittees; the CDS Fee Committee; the Legal Drafting Group (LDG); and the Risk Advisory Committee (RAC).

SDRC and subcommittees

The SDRC focuses on CDS-related systems development and other changes proposed by participants and CDS. The SDRC's Debt and Equity, Entitlements and Corporate Actions subcommittees focus on these specific aspects of the depository, clearing and settlement business. The SDRC also reviews and approves new and revised procedures and user guides for CDS services.

RAC

The Risk Advisory Committee functions as an advisory group to CDS on issues regarding the CDS risk model and reports to the audit committee of CDS's board of directors.

CDS Fee Committee

The CDS Fee Committee reviews proposed changes to fees for principal services, fees for ancillary services and fees for all new products or services provided by CDS.

CDS Legal Drafting Group

The CDS Legal Drafting Group (LDG) reviews amendments (including both new Rules and Rule redactions) to the CDS Participant Rules. The LDG is an ad-hoc, open membership committee which provides feedback and recommendations to the audit committee of CDS's board of directors with respect to Rule changes.

Suggestions from CDS participants and customers welcome

Participants and customers who are not active members of these committees are also encouraged to provide input into CDS's development agenda. To submit a suggestion, please contact your CDS Relationship Manager or Customer Service Representative.

Each request will be forwarded to the appropriate committee for review at its next meeting. CDS will then advise the submitting participant or customer of the proposal's status.

Meeting schedules

• Strategic Development Review Committee - The last Thursday of each month (monthly)
• Debt and Equity Subcommittee - Once every 3 months (quarterly)
• Entitlements and Corporate Actions Subcommittee (including tax processing) - Once every 3 months (quarterly)
• Risk Advisory Committee - Once every 3 months (quarterly) and ad-hoc
• CDS Fee Committee - Annually and ad-hoc
• CDS Legal Drafting Group - ad-hoc