LCH Ltd – EquityClear Amendment to Fails Rebate
|
Circular No. |
LCH Circular No 3767 |
|
Service Circular No. |
EquityClear Circular No 52 |
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Date: |
3rd August 2016 |
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To: |
All EquityClear Clearing Members |
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 |
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UK |
Euroclear UK & Ireland |
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Norway |
VPS |
|
Denmark |
VPC |
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Finland |
Euroclear Finland |
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Sweden |
Euroclear Sweden |
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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