EquiLend is pleased to announce the opening of their Canadian office based in Toronto.
"This expansion further represents the value that global institutions are finding in using the array of services on the EquiLend platform," states Brian Lamb, CEO of EquiLend. "We have received significant interest and support from our existing Canadian clients and expect continued growth for EquiLend in this market."
Alexa Lemstra, Vice President of Business Development, will head the office. Headquarters will be at the following location:
EQUILEND CANADA INC.
The Exchange Tower,
130 King Street West, Suite 1800
PO Box 427
Toronto, ON M5X 1E3
Tel: 416.865.3395
Fax: 416.947.0167
Showing posts with label Canada. Show all posts
Showing posts with label Canada. Show all posts
Monday, 15 September 2008
BP Canadian Gas Deal
BP Canada Energy Marketing Company (BP) and Secure Energy, Incorporated announced today that they have entered into a long term natural gas sales agreement whereby BP will purchase up to 67 million cubic feet of natural gas per day from the Secure Energy Decatur Plant once it has been constructed and becomes operational. Secure Energy will have the option to separately sell natural gas to industrial customers in the Decatur, Illinois area for a portion of its production and BP has agreed to purchase any natural gas not sold locally.
The Decatur plant will convert approximately 1.4 million tons of high- sulfur Illinois coal into over 20 billion cubic feet of natural gas each year. "We are quite pleased to have contracted with such a substantial counterparty as BP because the strength of BP's gas marketing enables Secure to focus on constructing and operating our plant knowing that our natural gas will be sold in our market. Completing this agreement is an important part of Secure Energy's plan to utilize America's abundant coal resources in an environmentally responsible way to help reduce our country's reliance on foreign sources of energy," said Jack Kenny, Co-Founder of Secure Energy.
"BP is proud to have been selected by Secure to market the output from their Decatur gasification project. We are also pleased to be a partner in Secure's vision of providing local solutions to Midwest natural gas consumers," said Lee Lunde, VP of Marketing and Trading for BP.
The Decatur plant will convert approximately 1.4 million tons of high- sulfur Illinois coal into over 20 billion cubic feet of natural gas each year. "We are quite pleased to have contracted with such a substantial counterparty as BP because the strength of BP's gas marketing enables Secure to focus on constructing and operating our plant knowing that our natural gas will be sold in our market. Completing this agreement is an important part of Secure Energy's plan to utilize America's abundant coal resources in an environmentally responsible way to help reduce our country's reliance on foreign sources of energy," said Jack Kenny, Co-Founder of Secure Energy.
"BP is proud to have been selected by Secure to market the output from their Decatur gasification project. We are also pleased to be a partner in Secure's vision of providing local solutions to Midwest natural gas consumers," said Lee Lunde, VP of Marketing and Trading for BP.
Monday, 25 August 2008
DTCC Enhances Canadian Link
The Depository Trust & Clearing Corporation (DTCC) has enhanced its settlement link with CDS Clearing and Depository Services Inc.(CDS) to offer new corporate action benefits including dividend, redemption and reorganization services.
The Canadian-Link Services, which went into operation in 2005, supports the processing and settlement of transactions in Canadian dollars at The Depository Trust Company (DTC), a DTCC subsidiary. This helps eliminate problems associated with maintaining split inventories in Canadian and U.S. securities and enables customers to concentrate all U.S. and Canadian security positions in their DTC accounts.
“The new services significantly expand the Canadian-Link Services program by offering our customers new processing capabilities for income, redemption and corporate action payments, and it gives them the option of settling in either U.S. or Canadian dollars,” said Patrick Kirby, DTCC managing director for Asset Services. The services were launched in July 2008.
“Many of the banks and broker/dealers participating in Canadian-Link Services requested that we expand our custodial duties to bring further efficiencies to their work processes,” Kirby added. Under the original program, DTC customers could clear and settle Canadian dollars at DTC, but they had to turn to CDS or other custodians for corporate actions.
The expansion enables DTC customers to receive and make payments on all corporate actions events for eligible Canadian issues – approximately 1,000 are now eligible – including tender offers and rights issues in Canadian dollars or a mix of U.S. and Canadian dollars.
For interest and dividend payments, DTC customers also can take advantage of DTC’s Elective Dividend Service (EDS). With EDS, DTC customers will be able to obtain “at-source” tax relief for Canadian issues. At-source relief allows DTC 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 tax reclaim to recover the over-withheld amount. This allows investors to eliminate the expensive and time-consuming processing associated with cross-border hard-copy tax reclamation.
“In addition to the tax advantages the new settlement system offers, the expanded settlement process that DTC has initiated will make for one-stop shopping for many participants,” said Kirby. “It limits the interfaces and the repositioning they will have to do, streamlining cross-border trading and making clearance and settlement and corporate actions processing more efficient.”
The Canadian-Link Services, which went into operation in 2005, supports the processing and settlement of transactions in Canadian dollars at The Depository Trust Company (DTC), a DTCC subsidiary. This helps eliminate problems associated with maintaining split inventories in Canadian and U.S. securities and enables customers to concentrate all U.S. and Canadian security positions in their DTC accounts.
“The new services significantly expand the Canadian-Link Services program by offering our customers new processing capabilities for income, redemption and corporate action payments, and it gives them the option of settling in either U.S. or Canadian dollars,” said Patrick Kirby, DTCC managing director for Asset Services. The services were launched in July 2008.
“Many of the banks and broker/dealers participating in Canadian-Link Services requested that we expand our custodial duties to bring further efficiencies to their work processes,” Kirby added. Under the original program, DTC customers could clear and settle Canadian dollars at DTC, but they had to turn to CDS or other custodians for corporate actions.
The expansion enables DTC customers to receive and make payments on all corporate actions events for eligible Canadian issues – approximately 1,000 are now eligible – including tender offers and rights issues in Canadian dollars or a mix of U.S. and Canadian dollars.
For interest and dividend payments, DTC customers also can take advantage of DTC’s Elective Dividend Service (EDS). With EDS, DTC customers will be able to obtain “at-source” tax relief for Canadian issues. At-source relief allows DTC 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 tax reclaim to recover the over-withheld amount. This allows investors to eliminate the expensive and time-consuming processing associated with cross-border hard-copy tax reclamation.
“In addition to the tax advantages the new settlement system offers, the expanded settlement process that DTC has initiated will make for one-stop shopping for many participants,” said Kirby. “It limits the interfaces and the repositioning they will have to do, streamlining cross-border trading and making clearance and settlement and corporate actions processing more efficient.”
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