The Canadian Securities Administrators (CSA) is turning to a new company to take over operation of their various online filing systems, SEDAR, SEDI and NRD.
The CSA said Thursday that it has contracted with Montreal-based CGI Information Systems and Management Consultants Inc. (CGI) to take over the hosting, operation and maintenance of the various national systems later this year when the current agreement with CDS Inc. expires.
The regulators say that the new arrangements with CGI are expected to decrease the operating costs of the these systems and provide opportunities to pass along savings to market participants. Additionally, overall systems fees to market participants are expected to be reduced when a proposed new fee rule comes into effect.
The new agreement, which will see CGI will provide data centre, data network, service desk, application management, user and billing, disaster recovery and certain other services, has an initial term of five years, and is extendible for up to three additional years.