LCH : CSDR update - CSD Settlement fail penalties

Report date
Summary

Circular No.

LCH Circular No 4201

Date:

22 March 2022

To:

All Clearing Members
Body

Dear Member,

We would like to inform you of changes to the month end processing of February’s CSDR settlement fail penalties (the “CSDR Penalties”). This is to align with the changes announced by ECSDA, which can be found at: https://ecsda.eu/archives/13970.

The key changes are:

  • 18th March to 30th March: CSDs to send monthly reports.
  • 13th April: CSDs to process monthly payment of CSDR penalties.

 

LCH across both Ltd and SA EquityClear and SA RepoClear services will make the following adjustments to the reporting and penalty collection timetable

 

Daily Report

Monthly Report

CSDR Penalties Invoice and Payment

Impact

Any changes to February penalties received from CSDs in daily reports will be included in our daily reports

Scheduling date changes in monthly reports

Invoice and payment date impact

EquityClear Ltd

 

Month end report will be available about 11:05pm on 30th March

CSDR Penalties will appear on the invoice of 11th April.

Penalties will be collected/paid via PPS on 13th April – in line with the CSDs calendar.

EquityClear SA

DPEN accessible via Portal

Monthly report MPEN via the Portal :

- Partial MPEN on 18th March for the T2S CSDs (ESES, NBB, Interbolsa)

- Full MPEN on 30th March a global monthly report including T2S CSDs and EB.

CSDR Penalties will be collected/paid via T2 on 13th April – in line with the CSDs calendar.

RepoClear SA

 

The ITM monthly statement will be automatically published when we receive the CSD statements between both 18th March and 30th March.

EOM monthly statement (which includes the global net amount) will be published as soon as possible after 30th March and no later than 12th April.

CSDR Penalties will be collected/paid via T2 on 13th April – in line with the CSDs calendar.

If you require additional information please contact :

> For EquityClear Ltd : securitiesclientserviceltd@lch.com

> For EquityClear SA: SAEquityClear@lch.com

> For RepoClear SA: repoclearclientserviceSA@lch.com

 

Securities Client Services