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DTCC’s Canadian-Link Services with the CDS Clearing and Depository Services Inc. (CDS) provide a broad range of services supporting corporate actions including dividend, redemption and reorganization services.

  • About

    In 2008, the Depository Trust Company (DTC) launched Canadian-Link Services asset servicing capabilities, providing DTC Clients with functionality for income, redemption and corporate actions payments processing relating to Canadian securities. The services include dividends, redemptions (including full call), and maturities (excluding municipal event types), and reorganizations including rights, warrants, voluntaries and mandatory events.

  • Who Can Use The Service

    All eligible and qualified DTC members, both broker-dealers and banks, can use Canadian-Link Services, but they must be participating in the program.

  • Benefits

    • Enhances custodial services with expanded processing capabilities for income, redemption and corporate actions payments.
    • Enables customers to receive and make payments on all corporate action events for eligible Canadian issues including tender offers and rights issues in Canadian dollars or a mix of U.S. and Canadian dollars.
    • Provides the option of settling in either U.S. or Canadian dollars.
    • Provides tax benefits that allow DTC customers to obtain “at-source’ tax relief for Canadian issues. (“At-source” relief allows customers to pay the lower tax rate at the time of a dividend payment rather than a higher or maximum rate, which would require a customer to file a tax reclaim to recover the over-withheld amount.)

  • How the Service Works

    Voluntary reorganization events can be processed in Canadian dollars. The event announcements are updated as information is received. The event announcement can be reviewed on CA Web, which includes terms, conditions, options and payment rates.

    Redemption and voluntary reorganization event elections will be made through the existing tender offer processor (PTOP). All rights and warrant processing will be done through existing rights and warrant functions (PSOP and WARR). Current payment allocation functionality will be updated to provide a view of allocated items on CA Web – including dividend payments as well.

    Additional end of day reports will be generated for customer reconciliation purposes.

  • For More Information

    To request additional information, please contact your relationship manager.

Additional Resources

  • News

    Read updates about Canadian-Link Services which enables customers to concentrate all U.S. and Canadian security positions in their DTC account. Learn more here.

    Read More
  • Legal

    Download legal information about Canadian-Link Services which provide customers with a single depository interface for U.S. and Canadian dollar transactions.

    Read More
  • Support

    Our support experts are available 24 hours a day. Contact us with questions regarding Canadian-Link Services. Click here to learn about our settlement services.


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