LCH Ltd EquityClear – Irish securities migration

Dear Member

The migration of the settlement of certain Irish securities from Euroclear UK and Ireland (“EUI”) to Euroclear Bank is scheduled to be effective on and from trade date, Monday 15 March 2021 (with the migration of the remaining Irish securities in approximately June 2021).  

Currently, all Irish securities traded on London Stock Exchange and MTFs that are cleared by LCH Limited (“LCH”) settle in EUI. However, on and from trade date 15 March 2021, this will change, as follows:

• Irish securities traded on London Stock Exchange and cleared by LCH will settle in EUI as a Crest depository interest (“CDI”);
• Irish securities traded on an MTF in the London Stock Exchange line of stock and cleared by LCH will settle in EUI as a CDI;
• Irish securities, which have migrated to Euroclear Bank, traded on an MTF in the Euronext line of stock and cleared by LCH will settle in Euroclear Bank; and
• Irish securities, which have not migrated to Euroclear Bank, traded on an MTF in the Euronext line of stock and cleared by LCH will settle in EUI.
   
  If members wish to nominate a new Euroclear Bank account to be used for the settlement of Irish Securities, or would like to change any of their existing standard settlement instructions currently in place with LCH, they must provide the relevant static data forms and power of attorney documentation to our static data team (Eqstaticdata.Ops.UK@lch.com) by Monday 1 March 2021.
   
  If you have any questions or require further information, please contact the Securities Client Services Team securitiesclientserviceLTD@lch.com.

Yours Sincerely

Alex Krunic, Head of Equities LCH Ltd