Automatic Splitting for Gilt Transactions

Dear LCH Ltd RepoClear Member

Further to the Euroclear UK and International Operational bulletin 2022-181, automatic splitting for member delivery (DEL) instructions will be introduced in CREST for debt instruments with effect from Monday 5th December 2022.

LCH Ltd supports this new functionality and believe it will assist with the overall settlement efficiency and performance in the Gilt Market.  Accordingly, we recommend that our members opt into the service to ensure that any qualifying deliveries that are failing due to lack of stock are presented for automatic splitting.   

Please ensure that the necessary automatic splitting preferences are set up in the CREST system prior to Monday 5th December 2022.

If you require any further information or have any questions, please contact the Securities Client Services team, at securitiesclientserviceltd@lch.com