Changes to the LCH model for Settled-to-Market SwapClear Contracts, FCM SwapClear Contracts and FCM ForexClear Contracts

Report date

Circular No.

LCH Circular No. 3925


16 January 2018


All LCH Limited Clearing Members


Further to Circular 3917 of 2017, LCH Limited is writing to inform FCM SwapClear Clearing Members, FCM ForexClear Clearing Members and US SwapClear Clearing Members that the changes to the FCM Rulebook and Rulebook are now in effect.

A legal memorandum addressing the treatment of settlement payments pursuant to FCM Contracts is available for Clearing Members in the ‘Legal Opinion’ folder of the Secure Area.

Kind regards,

LCH Relationship Management

Terms used herein and not defined herein shall have the meanings applied in the Rulebook or FCM Rulebook (as applicable).