Registration of Package Transactions

Report date

Circular No.

LCH Circular No 3600

Service Circular No

SwapClear Circular No 138


20th March 2015


All SwapClear Members


Commencing 23 March 2015, LCH.Clearnet Limited's SwapClear service will begin registering Package Transactions. A Package Transaction is a group of SwapClear Transactions that are presented for clearing by an Approved Trade Source System for registration.

Subject to applicable eligibility requirements and in accordance with the Rulebook, the Clearing House will register the constituent SwapClear Transactions of the Package Transaction simultaneously. 

Pursuant to the Rulebook, the Clearing House may limit the number of SwapClear Transactions that may be included within a  Package Transaction. As of 23 March 2015, this limit will be set to 200 SwapClear Transactions. The Clearing House will continue to review this limit and will notify market participants of any future changes. Clearing Members are encouraged to notify their clients of this limit.

Terms used in this circular and not defined herein have the meaning assigned to them in the Rulebook of LCH.Clearnet Limited. References to the Rulebook or a Clearing Member include the FCM Rulebook and FCM Clearing Member, as applicable.

Amendments to the Rulebook for the introduction of Package Transactions remain subject to regulatory approval.

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