Christmas and New Year Opening Times
Circular No. |
LCH Circular No 3567 |
Date: |
12 December 2014 |
1. Introduction
The purpose of this circular is to inform members of the opening and closing times for the clearing hours for LCH.Clearnet Ltd services over the Christmas and New Year Period. It is also intended to provide members with information relating to clearing processes over this period. Please note that all times quoted in this circular are in GMT.
2. Clearing Hours
The table below details the operating times of the various LCH.Clearnet Ltd services
3.
3.1 LSE Derivatives Markets
Equity Option Exercise/Assignments
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on LSE Derivatives Norwegian Equity Options settling in Norway. Please note the Norwegian Market is closed on the 24th and 31st December 2014:
Exercise/Trade Date |
Settlement Date |
22 December 2014 |
29 December 2014 |
23 December 2014 |
30 December 2014 |
29 December 2014 |
2 January 2015 |
30 December 2014 |
5 January 2015 |
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on LSE Derivatives Russian Equity Options settling in Euroclear:
Exercise/Trade Date |
Settlement Date |
22 December 2014 |
24 December 2014 |
23 December 2014 |
26 December 2014 |
24 December 2014 |
29 December 2014 |
29 December 2014 |
31 December 2014 |
30 December 2014 |
2 January 2015 |
31 December 2014 |
5 January 2015 |
3.2 NLX
Gilt Futures Exercise/Assignments
The table below details trade and settlement dates in respect of Gilt deliveries resulting from exercise and assignments on NLX Gilt Futures settling in Euroclear EUI:
Exercise/Trade Date |
Settlement Date |
22 December 2014 |
24 December 2014 |
23 December 2014 |
29 December 2014 |
24 December 2014 |
30 December 2014 |
29 December 2014 |
31 December 2014 |
30 December 2014 |
31 December 2014 |
3.3 EnClear Services
24 December 2014
The Expiry Day for Freight/Fertilizers Block Futures and Options December 2014 contracts. Registration and clearing ceases at the normal business day times for these contracts.
29 December 2014
The Expiry Day for Coal and Container Block Futures and Options December 2014 contracts. Registration and clearing ceases at the normal business day times for these contracts.
31 December 2014
The Expiry Day for Steel, Iron Ore, Block Futures and Options December 2014 contracts. Registration and clearing ceases at the normal business day times for these contracts.
4 Collateral Operations
LCH.Clearnet Limited will not accept USD cash Collateral in excess of Clearing Member's Initial Margin requirement after 10:00am New York time for Wednesday 24th, Friday 26th, Wednesday 31st December 2014 and Friday 2nd January 2015. Clearing Members may continue to provide cash Collateral in response to a margin call.
LCH.Clearnet Limited will not accept any backload transactions on Wednesday 24th, Friday 26th, Wednesday 31st December 2014 and Friday 2nd of January 2015.
From start of day Friday 19th December 2014 through to close of business Friday 2nd January 2015 the 2 days notice for substitution of collateral will be increased to 5 day notice time for all currencies.
The above applies to both Clearing Member's Proprietary and Client business.
5 Further Information
Members should contact the relevant Exchange for opening hours on individual contracts.
For further information in relation to this circular please contact one of the following:
Listed Derivatives |
Listed Derivatives Group line |
020 7426 7688 |
EquityClear |
Equityclear Group line |
020 7426 7601 |
ForexClear |
Forex Group line |
020 7426 3749 |
RepoClear |
RepoClear Group line |
020 7426 7660 |
SwapClear |
SwapClear Group line |
020 7426 7651 |
Collateral Operations |
Collateral Operations Group line |
020 7426 7504 |