CSA in service agreement with CGI

The Canadian Securities Administrators (CSA) announced a service agreement with CGI Information Systems and Management Consultants Inc (CGI).

Read: CSA renews term of chair, appoints new vice chair

Under the terms of the agreement, CGI will take over the hosting, operation and maintenance of the System for Electronic Documents Analysis and Retrieval (SEDAR), the System for Electronic Disclosure by Insiders (SEDI) and the National Registration Database (NRD) (collectively, the CSA National Systems) later this year.

The deal is expected to decrease the operating costs of the CSA National Systems and provide opportunities to pass along savings to market participants.

Read: CSA proposes derivatives market registration and regulation

Moreover, when CGI takes over operation of the CSA Nationals Systems, overall systems fees to market participants are expected to be reduced when proposed National Instrument 13-102 Systems Fees for SEDAR and NRD comes into effect.

Also, CGI will provide data centre, data network, service desk, application management, user and billing, disaster recovery and certain other services.

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