Member Reporting Update: Key Cut-Off Reminder
LCH Circular No 3850
21st March 2017
All LCH Ltd Clearing Members
Further to our previous Circular 3840.
Thank you to all those Clearing Members that have fully migrated to the new Portal sFTP service.
For those Clearing Members still to migrate, we would like to advise that access to MemWeb will no longer be supported, and a fee may be assigned for continuous access via sFTP until the service is fully decommissioned.
Effective 1st April, access to old member reporting via sFTP or MemWeb accounts (the “Old Member Reporting Service” will be subject to deactivation, unless you are a member that has secured an agreed extension. LCH will notify each member 10 days in advance of the specific accounts that will be deactivated.
LCH reserves the right to charge Clearing Members for continued access to MemWeb (via sFTP).
Any Clearing Members continuing to use the Old Member Reporting service after 1st April 2017 acknowledge and accept that, without prejudice to the general liability position under the Rulebook, neither the Clearing House, its affiliates, nor any of their respective representatives shall be liable to the Clearing Member, its representatives or any other third party in contract, tort, including negligence and breach of statutory duty howsoever arising, misrepresentation (whether innocent or negligent) restitution or otherwise for any loss or damage of any nature, including, without limitation, any loss of profits, business, contracts, anticipated savings, goodwill, or revenue or any direct, indirect, consequential, special, or punitive loss or damage whatsoever, arising out of, or in connection with, the Clearing Member, its representatives’ or any other person’s use of the MemWeb reporting service.
Clearing Members who are still to migrate, please confirm your planned testing and migration date.
If you are unable to meet the date outlined above, immediately contact Memberreporting.Programme@lch.com.
Should you have any further questions please do not hesitate to contact your relationship manager or email Memberreporting.Programme@lch.com