Easter 2021 Arrangements

Clearing Members are reminded that LCH Ltd (LCH) is open on Good Friday 2 April 2021 and Easter Monday 5 April 2021. The purpose of this circular is to provide detailed information on payment arrangements over this period.

Please refer to the updated Service Opening Table for additional details as there will be service specific operating hours for these days.

Margin Calls

Margin calls from close of business on Thursday 1 April relating to all Clearing Services will be processed and called from Clearing Members’ PPS bank for value Good Friday 2 April 2021. (1)

Margin calls from close of business on Friday 2 April relating to all Clearing Services will be processed and called from Clearing Members’ PPS bank for value Easter Monday 5 April 2021. (1)

Intraday margin calls will be applicable for all open services on Good Friday, 2 April 2021, and Easter Monday, 5 April 2021, and will be subject to the normal business day processes, including intraday margin calls and deadlines as detailed in the LCH Rulebook.

LCH reserves the right to call Clearing Members on both Good Friday and Easter Monday even if a Clearing Service is closed.

Margin Management

With the exception of the changes made by the respective Clearing Services, LCH will not be implementing any special collateral restrictions over the 2021 Easter period.

Reporting

Banking reports from close of business on Thursday 1 April 2021:

Banking reports will be available to Clearing Members as usual on Friday 2 April 2021 from 07:00 (London time). Clearing Members are advised that reports will be available on the LCH Portal website in the folder dated 2 April 2021.
 
Banking reports are available on the LCH Portal for one month.

For further information, please contact:
Collateral.ClientServices@lch.com

Nick McMillan
nick.mcmillan@lseg.com
UK Head of Collateral Operations and Client Services

Elissa Holme
elissa.holme@lseg.com
Head of CaLM LCH Limited

N.B. Please note that the content of this Circular is subject to regulatory review.
(1) Except for those currencies where holidays apply and day 2 currencies.

Terms used in this circular and not defined in this circular shall have the meaning assigned in the LCH Rulebook (available at www.lch.com).