LCH.Clearnet Ltd – Update on Proposed Changes to PPS Arrangements

Report date

Circular No.

LCH Circular No 3602


20th March 2015


All LCH.Clearnet LtdClearing Members


LCH.Clearnet Limited (LCH.Clearnet) would like to provide an update to Clearing Members in relation to the previous LCH Circular No 3588, published on 10th February 2015 in relation to the proposed changes to the PPS arrangements.

The previous circular informed members of LCH.Clearnet's intention to implement a change to the current PPS arrangements, with two main deliverables.

Internal analysis and impact assessment is being finalised along with the deployment schedule which is estimated as follows:-   

(i)    Same day currency calls on currency holidays to be delivered in Q3 2015

(ii)    Estimated deployment of NOK and CHF same day settlement is now early Q1 2016

Webinars will now be available in Q2 2015. As previously advised, these will show in detail the impact that the above changes will have on member processes and reporting. All members will be invited to join in these and continued updates will follow prior to implementation

For further information relating to this, please use the contacts below –

Laurence Jones
UK Head of Collateral Operations

Martin McCrystal
Senior Manager, Collateral Operations

Stephen Lloyd
Global Head of Collateral Operations