Update on SwapClear Linked Trade Migration
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Company Circular No: |
LCH Circular No 3543, |
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Service Circular No: |
SwapClear Circular No 132 |
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Date: |
7 November 2014 |
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To: |
All SwapClear Members |
As notified in Clearing House No 130 of 30 September 2014, SwapClear has commenced making certain changes to its trade booking model. Further information is available here
This circular is to notify SwapClear Clearing Members that certain legacy SwapClear Contracts will be converted from the ‘linked' to the ‘unlinked' model at the dates set out below
Scheduled Migration Timings:
Weekend November 9/10 - GBP SwapClear Transactions
Weekend November 15/16 - EUR SwapClear Transactions
Weekend November 22/23 - USD SwapClear Transactions
All features of those legacy SwapClear Contracts that have migrated will be preserved, including all trade references. SwapClear Clearing Members will be able to identify those SwapClear Contracts that have successfully migrated through the presence, in Clearing member reports, of a netting identifier for those SwapClear Contracts that have migrated.
Please contact swapclear.clientservices@lchclearnet.com if you have any questions.
*Terms used herein and not defined herein have the meaning assigned to them in the Rulebook of LCH.Clearnet Limited