LCH.Clearnet Ltd - OTC Precious Metals Clearing Service
|Company Circular No:||
LCH.Clearnet Ltd Circular No 3504 /
|Date:||08 August 2014|
All OTC Precious Metals Clearing Members
LCH.Clearnet Ltd would like to advise its clearing members that it will be closing its clearing service for OTC precious metals at the same time as the cessation of its clearing service to LME following the migration of open positions to LME Clear which is planned for 22nd September 2014.
With the absence of any open interest, trades and member demand we will suspend the service with effect from 12th August 2014.
Gold as collateral is only available to members clearing OTC precious metals. With the cessation of the clearing service for OTC precious markets, gold will no longer be eligible as collateral to cover margins with effect from 12th August 2014.
For further information please contact:
David Farrar - +44 20 7426 7582
Kamal Mohindra - +44 20 3197 4560