CDS Clearing and Depository Service Inc. is launching of CDS Securities Management Solutions Inc., a new subsidiary that will aim to deliver services to issuers and their agents.

CDS Solutions will offer the following products and services:

> online International Securities Identification Number (ISIN) Issuance and Committee on Uniform Security Identification Procedures (CUSIP) numbering;

> registrar and paying agent service;

> confirmations of registered holdings; and

> holders of record reports.

“CDS Solutions represents an opportunity to leverage existing relationships with issuers and their agents and reach new clients with an array of services that will serve market needs, while generating revenue that CDS Clearing can apply to reduce clearing and settlement costs for the Canadian capital markets,” says Mark Weseluck, chief business development officer, CDS Clearing.

CDS Clearing says the new company will advocate progressive steps to move issuers to adopt a purely uncertificated depository environment consistent with CDS Clearing’s aim to achieve the dematerialization of securities.

IE