| July 19, 2010 - To minimize the impact of possible disruptions in the downtown core on CDS's business during the week leading to Toronto’s June G20 Summit, CDS assumed a leadership role in the industry and began planning in early January 2010.
The planning included taking into consideration the potential impact that CDS's and its service partners' relocation to alternate sites would have on the movement of physical securities during this time.
CDS worked closely with participants, issuers and financial service providers to pre-determine work around procedures for the week leading up to the G20. Exception processes were introduced and implemented, including re-directing a portion of corporate events and entitlement payment processing to one of CDS's regional offices and CDS providing Letters of Guarantee to Deliver (LoGs) in place of delivering physical securities.
From Wednesday, June 23 to Friday, June 25 CDS relocated its operations out of its downtown office. During this time a total of 71 LoGs were issued with an approximate value of $950 million.
As a critical infrastructure provider to the Canadian capital markets, CDS has always had a robust business continuity program (BCP) in place that includes Toronto staff working remotely and shifting work to our regional offices.
Having these predefined plans already in place facilitated the ability to move our operations out of the downtown area and implement efficient workaround methods to remain 100 per cent operational. |