Effective July 1, 2009, CDS Clearing and Depository Services Inc. (CDS) is requiring all issuers that use the book-entry-only (BEO) services provided by CDS to enter into a new agreement (the BEO Securities Services Agreement) with CDS to make BEO issues eligible for deposit at CDS and to maintain the eligibility of securities of an issuer for BEO services.

This requirement applies to both new issuers and to BEO issuers who have an existing agreement with CDS (i.e. a letter of representations, blanket letter of representation, or memorandum of understanding). If applicable, the BEO Securities Services Agreement replaces these agreements delivered by the BEO issuer or its predecessors prior to July 1, 2009. It is a standard form agreement and no amendments are permitted by the BEO issuer.

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