LCH Ltd – EquityClear Amendment to Fails Rebate

Report date
Summary

Circular No.

LCH Circular No 3767

Service Circular No.

EquityClear Circular No 52

Date:

3rd August 2016

To:

All EquityClear Clearing Members

Body

Dear Member

From 1st September 2016, LCH Ltd will remove the failed settlement compensation in the below markets. 

The failed settlement compensation is a “rebate” given to members where they have not received securities from LCH Ltd from intended settlement date.

 

 Market

 CSD

 UK

 Euroclear UK & Ireland

 Norway

 VPS

 Denmark

 VPC

 Finland

 Euroclear Finland

 Sweden

 Euroclear Sweden

 Depositary Receipts & ETFs

 Euroclear Bank

 Switzerland

 SIS

 

The failed settlement compensation rebate will continue in all other markets and existing rules surrounding market makers for buy-ins and penalties will also not be adjusted as these are regulatory requirements.     

If you have any questions or require additional information, please contact:

Email: ian.mackenzie@lch.com  Tel:  + 44 (0) 207 426 7265

Email: tim.beckwith@lch.com  Tel: + 44 (0) 207 426 7276

 

Your sincerely

 

Vikesh Patel

Chief Operating Officer, EquityClear