The Canadian Securities Administrators (CSA) today announced that it has entered into an agreement with CGI Information Systems and Management Consultants Inc. (CGI) to renew the CSA National Systems.
Starting on June 1st, 2016, CGI will assume responsibility for preparing, configuring, testing, deploying, and then running and maintaining a new system to replace the CSA National Systems (e.g. SEDAR, SEDI, Cease-Trade Order Database, National Registration Database, National Registration Search and Disciplined List) with a single integrated solution. The new system, based on commercial software, will deliver secure transactions and ease of use as well as respond to future regulatory changes and requirements.
“We are looking forward to the deployment of a system that will be designed to better meet the current and future needs of our many stakeholder groups, internally and externally” said Louis Morisset, Chair of the CSA and CEO of the Autorité des marchés financiers.
This new system is expected to be delivered in stages throughout 2018 and 2019. A CSA/CGI transition team will work with stakeholder groups who currently use the existing systems to assist them in effectively preparing for and using the new systems.
The CSA, the council of the securities regulators of Canada’s provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.