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 CDS
 ISIN Issuance and Eligibility
 Fees
 The Canadian Depository for Securities Limited
 CDS Clearing and Depository Services Inc.
 CDS Innovations Inc.
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 Proud Silver Sponsor of CIRI
Quarterly Update 2009 Q3
In May, CDS Clearing launched CDS Securities Management Solutions Inc. (CDS Solutions), a subsidiary aimed at delivering services to issuers and their agents. More information on its services, including the new online ISIN Issuance service, can be found on the CDS Solutions website.

The new Book-entry-only (BEO) Securities Services Agreement came into effect. Use of the agreement is required to make BEO issues eligible for deposit at CDS and to maintain the eligibility of securities for BEO services.

CDS has retained its 'AA' rating from Thomas Murray, the specialist custody rating, risk management and research firm. The ‘AA’ rating as assigned by Thomas Murray recognizes CDS Clearing’s ongoing commitment to minimize risk for market participants and the demonstrated robustness of its settlement process during financial instability. The outlook has been assigned as ‘Stable’ which suggests that there are no imminent developments that may change the rating at this stage.









Service level standards - Status as at July 31, 2009


Reliability/availability measuresResult
Network availability 99.8% annual average99.9%
Operational reliability 99.4% annual average99.7%
Payment exchange 99.6% annual average* 100%
Days of disruptionOne day or less per yearNone
Disaster recovery plan100% successful testCompleted in November 2008
Customer service measures
ClaimsClaims submitted by customers will be processed within 20 business days. Management's decision will be presented to the Audit/Risk Committee at its next meeting for information purposes. The target is to keep claims approved by management to less than $50,000 in any fiscal year. None
Entitlement processing measures
Payments on payable date entitlement payments (in dollars) will be paid as follows:
1. 99.9% of income entitlements (interest and dividends) on payable date99.9%
2. 99.9% of all corporate actions (reorganizations) on payable date where pre-determined**99.9%
3. Where funds have been released to CDS after established time frames, funds will be paid the following business day 100% of the time.100%
Published Information99.0% of entitlement information bulletins will be published within 24 hours of receipt of information.100%
*Excluding customer extensions.
**Where not pre-determined, deemed to be date on which funds are released to CDS.