Collateral Operations – Changes to Billing, Settlement and Reporting of Collateral Fees

Report date

Circular No.

LCH Circular No 3644


17th August 2015

To: All LCH.Clearnet Ltd Clearing Members

Dear Clearing Member,

LCH.Clearnet Limited (LCH) is pleased to inform you of forthcoming changes to the way Collateral Fees are billed, settled and reported and to open member consultation in relation to implementation timelines.

Prior feedback has been incorporated in formulating these changes which will provide improvements to the current processes. Key enhancements are in the segregation of cash flows and the level of detail for reporting and invoicing, with other processes also being addressed.

A comprehensive member impact analysis accompanies this circular and can be found here.

Member feedback is requested by 3rd September 2015, on operational readiness to accommodate these improvements, with wider queries also welcomed.

The initial impact to members has been proposed for 1st October 2015, incorporating enhancements to daily reporting, with the first billing cycle affected on 4th November 2015.

The relevant rulebook changes will be submitted and provided for consultation as per LCH policy.

If you require any further information or have any questions please contact:

Collateral Queries


Phone +44 (0) 20 7426 7505

Laurence Jones

UK Head of Collateral Operations