Sans détour  

Dematerialization of extendible Canadian commercial paper and Canadian issued U.S. dollar money market instruments

The Canadian Depository for Securities (CDS) will make extendible Canadian dollar commercial paper and US dollar denominated Canadian money market instruments eligible in CDSX – the depository’s real-time clearing and settlement system.

CDS participants holding physical certificates for both instrument types are being asked to deposit their holdings in CDSX starting on February 13, 2006 up to February 18, 2006.  Only those instruments with a maturity date greater than or equal to February 22, 2006 are to be deposited in CDSX.  US dollar denominated Canadian money market instruments that have also been issued in the US through the Depository Trust Company are not eligible for deposit in CDSX. 

CDSX trade settlements for extendible Canadian commercial paper will commence on February 20, 2006 and on February 21, 2006 for US dollar denominated Canadian money market instruments.  The first corporate action – maturity or extension, will occur in CDSX on February 22, 2006.

If you have questions or require additional information, please contact your relationship manager or your client and advisor services group representative.

*  *  *

Sans détour est distribué à des fins d'information générale seulement et la Société de services de titres mondiaux CIBC Mellon, Compagnie Trust CIBC Mellon, CIBC, The Bank of New York Mellon Corporation et leurs sociétés affiliées ne garantissent pas l'exactitude ou l'exhaustivité de son contenu. Les lecteurs sont informés que le contenu de la présente publication ne devrait pas être interprété comme constituant un avis juridique, comptable, en placement ou financier ou un autre avis professionnel et qu'il n'a pas été rédigé pour un tel usage.