LCH Limited (“LCH”) Rule Change Committee of 31 October 2017 - Proposed Changes to the LCH Rulebook
Circular No. |
LCH Circular No 3902 |
Date: |
7th November 2017 |
To: |
All LCH Ltd members |
Following the Rulebook Committee of 31 October 2017, LCH is proposing the following rulebook changes available on its secure website under the folder “Rulebook”.
Title | Services Impacted |
---|---|
Auto-Repay Service
Currently, a Clearing Member may only request that LCH provide its "auto-repay" service (as more specifically described in section 1.3.1 (f) of the attached Section 3 of the Procedures) in respect of one or more of its Omnibus Segregated Accounts and/or its Proprietary Account. At the request of some of its Clearing Members, LCH has agreed to extend this so that a Clearing Member may also make such a request in respect of one or more of its Individual Segregated Accounts and/or one or more of its Custodial Segregated Accounts. The attached rule changes provide for such "auto-repay" service: - Section 1.3.1 (f) of Section 3 of the Procedures; and - Section 1.1.2 of Section 4 of the Procedures |
SwapClear ForexClear EquityClear LSE Derivatives Markets Listed Interest Rates RepoClear |
Reference Rates
In the event a reference rate is, inter alia, unavailable or unfit for purpose, LCH may determine an alternative rate. |
SwapClear ForexClear Listed Interest Rates |
The following rulebook changes are being made available for a consultation period of 2 weeks
Title | Services Impacted |
---|---|
SwapClear Delivery Methods
Per Clearing Member demand, LCH will permit clients to submit portfolio transfer and trade amendment requests via the SwapClear portal. |
SwapClear
|
The following rulebook changes are being made available for member notification
Title | Services Impacted |
---|---|
Non-deliverable Interest Rate Swaps (KRW, INR, CNY)
Provides ability for the clearing or KRW, INR, and CNY non-deliverable interest rate swaps. |
SwapClear
|
Clearing members that wish to comment on the proposed rulebook changes should email rulebook@lch.com. If you have any general questions on rulebook changes, please contact your usual LCH contact. Please note that all rulebook changes remain subject to regulatory approval and internal LCH risk approval.