LCH Ltd RepoClear Service: UK bank holiday

Dear LCH Ltd Repoclear Member,

The day of the funeral of Her Majesty Queen Elizabeth II, Monday 19 September 2022, has been declared a UK Bank Holiday.

We would like to advise our LCH Ltd RepoClear members that the RepoClear service will be closed and trades will not be registered on this date. Please also take note of the following:

• For existing settlement positions with an intended settlement date of Monday 19 September 2022, the following will occur:
  • On 19 September 2022, RepoClear netting will take place at the normal scheduled times. Netting reports will be available in the Portal on the day.
  • Gilt and Term £GC interest settlement instructions will be created on the 19 September 2022 and held until the next business day (20 September 2022) where they will be released to CREST at approximately 7am UK time.
  • The Gilt instructions released on the 20 September 2022 will have trade dates and intended settlement dates of the 19 September 2022.
  • Term £GC settlement instructions will be created at LCH on the 19 September 2022 and not released to CREST. They will be re-introduced into netting on the 20 September 2022 as per existing behaviour.
  • LCH will not make any adjustments to the calculation of interest as a result of the Bank Holiday.
  • There will be no intra day or end of day margin report (RREP1006) on 19 September 2022.

If you require further information, please contact Securities Client Services at securitiesclientserviceltd@lch.com

Yours sincerely

Securities Client Services Team