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CDS Window Closure

March 18, 2020

In light of the states of emergency declared by several Canadian provincial jurisdictions in response to COVID-19, be advised that CDS's window services in Toronto, Montreal, Calgary, and Vancouver will be closed, effective Thursday March 19th at 5:00 p.m, local time, in each location. The window services will remain closed until further notice.


The following services will not be offered during the period in which the windows will be closed.

  • Deposits (Regular and Instant)
  • Withdrawals (Regular and Rush)
  • Physical transfers via CDS
  • Courier services where envelopes are dropped off at CDS

Notwithstanding the above, Participants may still enter deposit and withdrawal requests into CDSX; Participants must, however, contact the appropriate transfer agent(s) to determine specific arrangements for the delivery and receipt of certificates.


CDS will not be accepting any US deposits and withdrawal during this closure


Further to CDS Bulletins 2020-00021C and 2020-00024C, published on March 11th, and March 13th 2020 respectively, CDS wishes to confirm our position with respect to delivery and receipt of executed documents for the issuance of securities for which CDS is the custodian.


In the event either that a CDS Participant, an Issuer (or their respective Agent) (Collectively "Issuers"), or CDS, implements Business Continuity Plans ("BCP"), or variations thereof, with the result that either the Issuers are unable to provide original signed documents, or that the CDS Clearing Window Service is closed, CDS will, at our sole discretion, accept a PDF copy of the executed global debenture/note (including, for present purposes, such documents executed via electronic means) for the purpose of facilitating and accommodating new issue (instant deposits) settlements, provided that that the original global debenture/note will be delivered to CDS as soon as normal delivery operations resume for both parties (CDS and Issuers). If there is a failed delivery of the required global debenture/note, CDS retains the right to reverse the deposit (credit).

If you require further information, please contact your CDS Relationship Manager,