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CDS celebrates its 45th Birthday!

June 11, 2015

Earlier this week, the Canadian Depository for Securities Limited (CDS) celebrated forty-five years in business.

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On June 9, 1970, in response to increased capital markets activity and escalating back office costs, CDS was formed in Toronto. The vision was to create an automated, centralized depository service and electronic clearing and settlement system that could not only handle higher volumes, but meet client needs into the future.

Over the next few years, CDS began clearing trades executed on Toronto Stock Exchange and Montreal Exchange and became a participant of The Depository Trust Company (DTC) in New York, a move to meet the growing need for investor access to the U.S. market. DTC later became a direct CDS participant and cross-border clearing and settlement became a reality.

CDS has long been at the forefront of advancements in the industry, from the opening of its book-based system in the early 1980's to the launch of CDSX®, one of the most advanced clearing and settlement systems in the world in 2003. CDS has enabled securities processing to become simpler, faster and more effective, while broadening the types of eligible securities on deposit.

Forty-five years from incorporation, CDS remains Canada's central securities depository, settlement and clearing hub, now with regional offices in Montreal, Vancouver and Calgary. Today, CDS proudly supports Canada's equity, fixed income and money markets, holding almost $4 trillion on deposit and handling over 460 million domestic and cross-border securities trades annually.

And CDS continues to evolve to become much more, pursuing new solutions to help clients do business more efficiently and compete more effectively. Earlier this month, CDS expanded its offerings to include CDS Currency Services.

Happy Birthday CDS!