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Administration June 7, 2002
Canada to Move to One-Day Clearing and Settlement
July 18, 2001 (PLANSPONSOR.com) - The Canadian
Depository for Securities Limited (CDS) plans to speed up the
clearing and settlement of debt and equity trades to one day
after the transaction date (T+1), from the current three-day
process (T+3).
Reported by editors@plansponsor.com
The CDS will develop the plan in line with a trade-processing blueprint for improving clearing and settlement, set out by the Canadian Capital Markets Association (CCMA) in March, a cross industry group.
In providing a solution, CDS hopes to form partnerships with Canada’s Financial Models Company Inc, Omgeo and the Global Straight-Through Processing Association.
The exact form that the solution will take will be announced in the coming months.
– Camilla Klein editors@plansponsor.com
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