SwapClear: Extended Opening Hours

Dear SwapClear Member,

On Monday 8 February 2010, LCH.Clearnet is extending the SwapClear opening hours. This is the first in a series of planned extensions to opening hours that will increase the usability of the SwapClear service for customers beyond the Western European time zones and increase the responsiveness of the service for all participants.

Summary of Changes

• SwapClear will be open for registration of trades from 07:30 to 19:30 London time, with LCH.Clearnet operations support hours extended to the same period. This is an extension at both ends of the day from current opening hours of 08:30 to 18:00.

• An additional intra-day risk calculation will be performed in support of the additional opening period. As today, routine intra-day margin calls may be issued up to 18:30; but members should note that calls may be made at any time up to 21:00.

• End of Day price capture times will be changed according to the following table. From Monday 8 February, all End of Day data will be checked and finalised at 19:30.

 
If you have any questions relating to this circular, please do not hesitate to contact me on +44 (0)20 7426 7608 or [email protected].

Yours sincerely

 
Martin Hadfield
SwapClear Commercial Services
LCH.Clearnet Limited