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HOME Participants Participants Settlement & Clearing Trade Clearing and Settlement Securities Depository, Custodial, Entitlement Strip Bond Reports Strip Bond Information Services ISIN Issuance and ISIN Eligibility Services ISIN Issuance & Eligibility (CDS Participants) International Services CDS Special Handling BEO Services Resources CDS Login Participant Resources Participant List CDS Participant Rules 2026 Fees – CDS Clearing CUID Directory Become a Participant Issuers Issuers Issuer Services ISIN Issuance and ISIN Eligibility Services ISIN Issuance & Eligibility (Non-Participants) Legal Entity Identifier (LEI) CDS Professional Services BEO Services Confirmation of Registered Holdings Holders of Record Notice of Record & Meeting Dates Issuer Resources TMX-CDS Connect Registration CDS Login 2026 Fees – CDS Clearing Shareholder Meetings Contact Us Solutions Solutions Data Products Canadian Corporate Disclosure Service CDS Advisory Bulletins CDS Enhanced Bulletins CDSX Entitlements Fixed Income Terms and Conditions (FITC) Service Fixed Income Price Service (FIPS) CDSX Security Master File Holders of Record Confirmation of Registered Holdings ITP Stats Strip Bond Reports Bulletins and Alerts CDS Bulletins Login CDS Enhanced Bulletins CDS Advisory Bulletins CDS Key Initiatives T+1 Post-Trade Modernization TMX Securities Lending Recalls Hub Canadian Collateral Management Service Tax Services Tax Breakdown Services Dividend Eligibility CDS NR7-R Certification Service Tax Reporting Consultation CDS Special Handling CDS Professional Services Contact Us Bulletins and Resources Bulletins and Resources How-To User Procedures Technical / Supplemental International Bulletins & Alerts Bulletins Login CDS Enhanced Bulletins CDS Advisory Bulletins Forms & Documentation Forms Online Holiday Processing Schedule 2026 Fees – CDS Clearing CDS Participant Rules CDS Performance Standards Risk Management News & Publications Corporate Actions Publications Newsroom CDS Notices ITP Stats Public Lists Participant List CUID Directory Shareholder Meetings CDS Support CDS Login FAQs Contact Us About About CDS Board of Directors CDS Governance Senior Management Contact Us CDS Login Home Participants Services International Services International Services Canada-U.S. Cross-border services Every trading day, CDS clears and settles thousands of Canada-U.S. cross-border transactions that account for almost one-quarter of its total trade-processing volume. The CDS–DTCC connection is the most active and sophisticated inter-depository linkage in the world. International Linkages (PDF) Automated Confirmation Transaction CDS's Automated Confirmation Transaction (ACT) service provides direct access to NASDAQ Weblink 2.0, a browser-based application that allows users to facilitate the post-execution steps of price and volume reporting, comparison and clearing, using the Financial Industry Regulatory Authority (FINRA)/NASDAQ trade reporting facility. CDS's ACT service is a unique sponsorship arrangement that allows Canadian broker-dealers to access NASDAQ without having to be direct members of NASDAQ. CDS customers of New York Link are eligible to use the ACT service. Cross-border clearing and settlement CDS offers customers two channels to effect Canada-U.S. cross-border transactions: DTC Direct Link settles on a trade-for-trade basis using the custodial and institutional clearing and settlement services of The Depository Trust Company (DTC). DTC provides trade-for-trade settlement and depository services for its participants in the U.S. New York Link clears and settles over-the-counter (OTC) trades with U.S. broker-dealers through The National Securities Clearing Corporation (NSCC). NSCC provides centralized clearance, continuous net settlement and information services for broker-to-broker trades in the U.S. Both DTC and NSCC are subsidiaries of The Depository Trust & Clearing Corporation (DTCC), the U.S. holding company that provides clearance, settlement, depository and information services for a range of securities. For more information on cross-border clearing and settlement, see User Documentation. International custodial link CDS has a custodial relationship with The Depository Trust Company (DTC). Through CDS's DTC Direct Link service, members move cross-border securities electronically or physically, eliminating the need for CDS customers to maintain a U.S. presence or a third-party arrangement. International Ledger Reconciliation service (ILRS) The International Ledger Reconciliation Service (ILRS) provides New York Link and DTC Direct Link customers with an exception report that electronically compares ledger positions. The ILRS report lists all discrepancies between customers' ledger positions at The Depository Trust Company (DTC) and customers' internal ledgers at their service bureaus. The report is divided into equities and bonds, and can list sub-accounts for each security. International Trade Reconciliation service (ITRS) The International Trade Reconciliation Service (ITRS) reconciles data files and trade information provided by both CDS customers and The National Securities Clearing Corporation (NSCC). It offers two trading blotter reports to New York Link customers: Unmatched Trade Report lists discrepancies between NSCC's Trade Input files and the customer's internal records of daily trading activity. Dropped Trade Report highlights trades listed in the Unmatched Trade Report that are past the value date. Customers can view these reports online via the report management system (RMS). International Trade Reconciliation Service (PDF) U.S. Entitlements processing The U.S. Internal Revenue Service (IRS) requires non-U.S. residents to pay a withholding tax on entitlements originating from U.S. Institutions. CDS provides a service to New York Link and DTC Direct Link customers that ensures sufficient withholding tax is held in their accounts for each entitlement event. For complete information on these services refer to User Documentation or contact a CDS customer service representative. International links with other Central Securities Depositories (CSDs) CDS has custodial relationships with other international CSD to facilitate the movement of positions in securities issued by Canadian companies: CAVALI (Peruvian CSD) Jamaica Central Securities Depository (Jamaican CSD) For complete information on these services refer to User Documentation or contact a CDS customer service representative. Top Capital Formation Toronto Stock Exchange TSX Venture Exchange TSX Trust TMX Newsfile Markets Montréal Exchange Toronto Stock Exchange TSX Venture Exchange TSX Alpha Exchange AlphaX US Shorcan Post-Trade CDCC CDS Insights TMX Datalinx TMX Trayport TMX VettaFi TMX Money Contact Us Legal Privacy Policy Accessibility Fraud Prevention X Facebook LinkedIn YouTube TMX Group Limited and its affiliates (the “TMX group of companies”) do not endorse or recommend any securities issued by any companies identified on, or linked through, this site. 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