David Wood

Independent Director

Mr. Wood has been involved in the Canadian securities industry for 3 decades holding senior executive management positions with 3 major national investment dealers. Mr. Wood started Correspondent Network at First Marathon Securities Limited which pioneered the development of the Canadian correspondent clearing and business segment. Mr. Wood first joined the CDS Board in 1990 as representative of the Toronto Stock Exchange until 2006. Mr. Wood retired in 2008 and after two years he rejoined the CDS Board and was elected Chairman in 2010.

Jean-Paul Bachellerie

President and Chief Operating Officer, PI Financial Corporation

Mr. Bachellerie is the President, Chief Operating Officer of PI Financial Corporation, Canadian Investment dealer providing a full range of investment products and services to individual, corporate, and institutional investors and operates a US-licensed subsidiary as well as an insurance-licensed subsidiary. Mr. Bachellerie's previous roles include Manager of Finance at Ernst & Young. Mr. Bachellerie was also the Chair of the Pacific District Council of IIROC and a member of IIROC's National Advisory Committee.

Marie-Claude Beaulieu

Independent Director

Dr. Marie-Claude Beaulieu is full professor of finance and RBC Chair in Financial Innovations at the Université Laval. She obtained her Ph.D. from Queen's University in 1994 and has been associated with Laval ever since, being promoted to full professor in 2002. Dr. Beaulieu is a fellow of an interuniversity public policy research centre (Centre de recherche sur le risque, les politiques economiques et l'emploi), and has published numerous academic papers in finance.

Lloyd Costley

Chief Operating Officer, Raymond James Ltd.

Mr. Costley is the Chief Operating Officer of Raymond James Ltd., where he oversees administrative and operational functions, including information technology, finance, legal, human resources, securities operations, office services, credit, registrations and compliance. Mr. Costley is also a Director and serves on the Operating Committee of Raymond James Ltd. In his previous roles Mr. Costley served as a senior financial and operations executive with the Canadian Venture Exchange (now TSX Venture Exchange). Prior to that, Mr. Costley was Executive Vice President and Chief Financial Officer at the Vancouver Stock Exchange.

Patrick Cronin

Chief Risk Officer, BMO Financial Group

Mr. Cronin was appointed Chief Risk Officer, BMO Financial Group, in November 2018. In this role, he is responsible for providing independent review and oversight of enterprise-wide risks and leadership on risk issues, developing and maintaining a risk management framework and fostering a strong risk culture across the enterprise. Most recently, Mr. Cronin was CEO & Group Head of BMO Capital Markets, responsible for BMO Financial Group’s interactions with corporate, government and institutional clients. Prior to that, Mr. Cronin was President & Chief Operating Officer of BMO Capital Markets where he had first line oversight of all balance sheet and risk management activity, international operations, and regulatory and compliance functions. Mr. Cronin also serves on the Ivey Advisory Board, and is a Campaign Cabinet member of the SickKids Foundation.

Luc Fortin

President and Chief Executive Officer of the Montréal Exchange (MX) and Global Head of Trading with TMX Group

Mr. Fortin is President and Chief Executive Officer of the Montréal Exchange (MX) and Global Head of Trading with TMX Group. Focused on leading growth in the areas of TMX derivative, fixed income, private markets and equity trading businesses, Luc helps to deliver a best-in-class experience to trading clients, developing and offering new product solutions.

Paul Langill

Chief Operating Officer, TD Securities and Executive Vice President, TD Bank Group

Mr. Langill is the Chief Operating Officer of TD Securities, responsible for overseeing its global governance, initiatives portfolio, operations and technology services. Previously Mr. Langill was Senior Vice-President, Trading Risk-Risk Management, TD Bank Group, responsible for setting market risk policies, proactively identifying, measuring and monitoring markets risks within TD Bank Group, measuring and managing liquidity risk within the Wholesale Bank, and providing analytical modelling expertise to all of TD Bank Group's businesses. Prior to joining TD Bank Group, Mr. Langill was a partner in Ernst & Young's Capital Markets Practice.

Bruce Macdonald

Independent Director

Mr. Macdonald has extensive experience in the financial services industry and corporate governance. Most recently, he was Head of Commodities for RBC Capital Markets and Co-CEO of RBC (Barbados) Trading Bank Corp. where he led RBC’s Discretionary Capital Group in the Bahamas. Previously, he was Head of Wholesale Technology and Operations for RBC’s Capital Markets and Wealth Management businesses. Mr. Macdonald was Chief Operating Officer for RBC Capital Markets and a member of the RBC Capital Markets Operating Committee, a role he held for 12 years. He was an Executive Vice President of Royal Bank of Canada and served as President of RBC Dominion Securities Inc. from 2005 – 2015.

John McKenzie

Chief Financial Officer, TMX Group

Mr. McKenzie is Chief Financial Officer (CFO) of TMX Group. He is responsible for the financial management of the company as well as for the administrative oversight of TMX Group's equities, fixed income and derivatives clearing businesses. He is also a member of the TMX Group Executive Committee.

Jay Rajarathinam

President, Canadian Depository for Securities Limited (CDS); President, Canadian Derivatives Clearing Corporation (CDCC)

Mr. Rajarathinam is President of The Canadian Depository for Securities Limited (CDS), Canada's national securities depository, clearing and settlement hub for equity, fixed income and money markets. Mr. Rajarathinam is also President of the Canadian Derivatives Clearing Corporation ("CDCC"), the central clearing counterparty for exchange-traded and Fixed income derivative products in Canada and for a growing range of customized financial instruments. Mr. Rajarathinam continues in his current role as the Chief Technology and Operations Officer for TMX Group Limited in addition to the above.

Carol Wilding

Independent Director

Ms. Wilding was appointed President and CEO of the Chartered Professional Accountants of Ontario in October 2014. In this role, she leads the qualifying and regulatory body of Ontario’s 90,000 CPAs and 21,000 CPA students. She joined at a historic juncture for the profession, integrating the three legacy accounting bodies (CA, CGA and CMA). The former head of the Toronto Region Board of Trade (TRBT), Mount Sinai Hospital Foundation and Plan Canada, Ms. Wilding was to the Top 100 list of Canada’s Most Powerful Women in 2010. Ms. Wilding currently serves as director for the Sunnybrook Hospital Foundation, Luminato Festival and sits on the Dean’s Council at the Ted Rogers School of Management at Ryerson University.