T+2 - Will you be ready? Keith Evans Executive Director, CCMA

Agenda CCMA - Background T+2 - US Schedule T+2 - Canadian Committee Structure T+2 - Canadian Schedule T+2 - What Should You Be Doing Now? Questions

CCMA - Background The Canadian Capital Markets Association (CCMA) is a federally incorporated, not-for-profit organization, launched to identify, analyze and recommend ways to meet the challenges and opportunities facing Canadian and international capital markets  Incorporated in 2000 (Formerly Canadian G-30) Moth-Balled in 2008 Re-activated in July 2015

CCMA – Background The current priority of the CCMA is to coordinate a smooth transition to a two-day settlement period, or T+2 Work for the Canadian financial industry Co-ordinate with the US timeline

T+2 US Schedule

T+2 - Canadian Committee Structure CCMA Board of Directors T+2 Steering Committee (T2SC) Co-Chair – Keith Evans (CCMA) Co-Chair – Jason O’Born (RBCCM) CCMA (Executive Director) Operational Working Group (OWG) Co-Chair – Domenic Sgambelluri (Northern Trust) Co-Chair - Michael Holmes (Raymond James) Legal/Regulatory Working Group (LRWG) Chair – Jamie Anderson Communication/Education Working Group (CEWG) Chair – Barbara Amsden

T+2 Canadian Schedule Re-activate CCMA - COMPLETE - July 2015 Approve T+2 Committee (T2SC) Structure - COMPLETE Initial meeting of T2SC on October 15, 2015- COMPLETE Agree on overall Canadian T+2 strategy – December 2015 Identify major milestones – December 2015 Identify major issues to be resolved – December 2015

T+2 – Canadian Schedule Issue Working Group announcement - COMPLETE Identify Working Group makeup - COMPLETE Initial meeting of the working groups Operations WG – COMPLETE – November 3, 2015 Legal and Regulatory WG - November 20, 2015 Communication and Education WG - November 19, 2015 Identify major issues and milestones - December 2015 Working groups to feed info to the T2SC for approval

T+2 – What should you be doing? Read UST2 Whitepaper Get involved Set up internal project Analyze what needs to be done – systems, processes, procedures, etc. Ask your vendors/suppliers

Questions?