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Today, Wednesday, April 30, 2025, the Canadian Depository for Securities Limited (CDS), which operates Canada’s equities and fixed income clearinghouse, announced the implementation of major upgrades to its critical infrastructure.
This initiative, known as the Post Trade Modernization (PTM), involves the launch of a new platform powered by TCS BaNCS™ for Market Infrastructure, a solution from Tata Consultancy Services (TCS).
Key aspects of these upgrades include:
* Modernized Technology: Replacing legacy systems with a high-performance, scalable, and standards-compliant clearing and settlement solution.
* Enhanced Efficiency and Resilience: Aiming to create more efficient, resilient, and adaptive critical systems for Canada’s capital markets.
* Improved Service for Global Clients: Designed to better serve the evolving needs of marketplace participants, regulators, investors, and financial institutions, including their global client base.
* Broader Post-Trade Capabilities: The upgrades encompass clearing, settlement, depository, and entitlement payments.
* Foundation for Future Innovation: Providing greater flexibility for future enhancements and easing support activities.
Statements from TMX Group and CDS:
* John McKenzie, CEO, TMX Group: stated that post-trade modernization is a “game-changer” for Canada’s equities, fixed income, and OTC clearinghouse and a key milestone in the evolution of TMX. He believes the new platform advances their core technology capability and ultimately strengthens Canada’s ability to compete for global investment.
* Kevin Sampson, President, CDS: highlighted the successful completion of the complex PTM project as the culmination of significant work across clearing and technology divisions, in collaboration with TCS and industry participants.
This infrastructure upgrade is a significant step for CDS and the Canadian financial market, aiming to enhance its competitiveness and better serve its global client base in the post-trade environment. It builds on previous initiatives like the Canadian Collateral Management Service (CCMS) launched in 2024.

Video courtesy of Eurex

Video courtesy of Eurex