Changes to the LCH.Clearnet Limited and FCM Rulebook

Report date
Summary

Circular No.

LCH Circular No 3618

Date:

25th May 2015

To:

All LCH.Clearnet Ltd Clearing Members

Body

Following the Rules Change Committee of 19 May 2015, LCH.Clearnet Limited is making a number of proposed rulebook changes available on its secure website.*

The proposed changes referred to in this circular are summarised below, and are being made available for a consultation period specified below:

1. Compression – 28 day consultation 

ForexClear

2. Package Transactions – 28 day consultation 

ForexClear

3. PPS Contingency Arrangements – 14 day consultation                             

All Services

4.Follow-up Inflation Swaps Changes – 14 day consultation

SwapClear

5.Manual Acceptance – 14 day consultation

SwapClear                           


The following rulebook changes are for notification only:

1. NLX Accounts                    

  NLX

2. Waterfall Changes

All Services

             
In addition Clearing Members are advised that:

LCH.Clearnet Limited previously published draft rules relating to the introduction of clearing of Mexican Peso denominated interest rate swaps through its SwapClear service. These rules provided that MXN was a “Two-Day Currency”. The final rules will be changed to reflect the fact that MXN will be a “One-Day Currency”.

Clearing Members that wish to comment on the consultation drafts should email: rulebook@lchclearnet.com.

If you have any general questions on rulebook changes, please contact your usual LCH.Clearnet contact.

Please note that all rulebook revisions may remain subject to regulatory approval.

Accessing the Secure Area:

*The proposed changes to the rulebook can be found on the secure area within the folder ‘Rulebook'.

 

Members with an existing secure area account:

Log-in here

Request access to the ‘Rulebook' area here

In the "Organisation" section please provide the full legal entity name of your firm.

Log-in details will follow via e-mail.

 

Members without a secure area account:

Request access to the ‘Rulebook' here

In the "Organisation" section please provide the full legal entity name of your firm.

Log-in details will follow via e-mail.