How It Works
All transactions that are submitted to LCH.Clearnet SA are registered on a real time basis in its Clearing System in the name of the clearing member. Upon registration novation occurs.
The Cash Clearing System is open for the registration of trades between 9:00am CET to 5:40 pm CET. On receipt and confirmation of eligible transactions into the Clearing system, trades are governed under the rules of the LCH.Clearnet SA rulebook.
For transactions registered in the Cash Clearing System margins are required to cover the liquidation risk, and the negotiation risk. The calculations are made using SPAN ®.