Essentials

Everything you need to know about clearing your trades at EquityClear SA

Clearing Trades at EquityClear

EquityClear SA offers its members the ability to clear equities and derivatives from a number of different exchanges and execution venues.

Despite the inevitable variation that exists in transaction processes and procedures at each of our trading platform partners, LCH has developed a single harmonious trade workflow to seamlessly guide our member’s trades into EquityClear and through to settlement in the most efficient manner possible.

In order to value the Margins, EquityClear SA and CommodityClear SA use the prices provided by relevant Regulated Markets or Trading & Matching Platforms as mentioned in Instruction I.3.4 and data providers.

 

Trade Workflow

All transactions that are submitted to EquityClear SA are registered on a real time basis in its clearing system in the name of the Clearing Member. Upon registration novation occurs.

The cash clearing system is open for the registration of trades between 9:00am CET to 5:40pm CET. On receipt and confirmation of eligible transactions into the clearing system, trades are governed under the rules of the LCH SA Rulebook.

For transactions registered in the cash clearing system margins are required to cover the liquidation risk, and the negotiation risk. The calculations are made using SPAN ®.

Members of LCH SA are eligible to clear products subject to approval.

Buy In

LCH will repurchase the following securities (equities, right, coupon...) for immediate delivery.

The date mentioned in the first column refers to the buy-in positions triggered yesterday and published by LCH this current business day.

PUBLICATION DATE : 22-06-2018
BUSINDATE MARKET CSD DESCRIPTION ISINCODE TRADING QUANTITY PRICE CUR
22/06/2018 TSS EB BNPP EmMkSRI ETF LU1291098314 LU1291098314 346.000 140.604 USD
22/06/2018 TSS ENL VANGUARD EURGVBD IE00BZ163H91 IE00BZ163H91 135.000 29.9076 EUR
22/06/2018 TSS ENL SRLEV LT2 9%APR41 XS0616936372 XS0616936372 12000.000 142.32 EUR
22/06/2018 TSS EF FURSTEN2 5 5/8%PLD DE000A0EUBN9 DE000A0EUBN9 25000.000 120 EUR
22/06/2018 TSS EF BNPP Stoxx Insur FR0007068101 FR0007068101 278.000 583.08 EUR
22/06/2018 TSS EF SCHND 62TL 0618S LU1650880690 LU1650880690 2000.000 0 EUR
22/06/2018 TSS EF COHERIS FR0004031763 FR0004031763 1853.000 2.988 EUR

For any information, please contact your Trading or Clearing member to make your offer. As direct member of LCH SA you can immediately contact the operational department in Paris : +33 1 70 37 42 92

or the local LCH Branch in Brussels :  +32 2 274 55 03
or in Amsterdam : +31 20 524 5968
or in Porto : +351 22 615 84 59

Finanical listed derivatives - Trade Workflow and Submission

EquityClear’s clearing service for financial derivatives operates through the Derivatives Clearing System. Once trades are matched on the Euronext platform, registration of matched transactions presented to LCH occurs on a real time basis.

The Derivatives Clearing System is open for the registration of trades between 07.30 CET and 20.00 CET. On receipt and confirmation of eligible transactions into the Derivatives Clearing System, trades are governed under the rules of the LCH SA Rulebook

Once the positions at the end of the trading day have been determined, LCH calculates the premiums, initial margin and variation margin to be paid or received by each clearer. After the exercise/assignment of products for cash settlement, an amount is to be received or paid by the Clearing Member Firm.

Members of Euronext and LCH are eligible to clear products subject to approval. More information on becoming a member of LCH SA can be found here.

LCH website is currently being re-designed – EquityClear SA pages may be amended in the coming weeks.