Christmas and New Year Opening Times

Report date
Summary

Circular No.

LCH Circular No 3567

Date:

12 December 2014

Body

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