Explore the Archive
- Risk Notices Ltd
- Risk Notices SA
- Default Fund Notices SA
- Circulars
- Flash infos Bonds & Repos
- Flash infos Derivatives
- Flash infos Equities
- Flash infos Other
- Fixed Income Notices Ltd
- Legal Notices SA
- Membership Notices SA
- General Information
- General Member Meetings
- Press Releases
- SA Completion of Application Documentation
- SA Clearing Specifications
- SwapClear Legal Documentation
| Originating department: | Operations Department |
| Company Circular No: | LCH.Clearnet Ltd Circular No 3037 |
| Date: | 23 November 2011 |
| To: | All Members |
Christmas and New Year Opening Times
1. Introduction
The purpose of this circular is to inform members of the opening and closing times of the Exchange and LCH.Clearnet Ltd services over the Christmas and New Year Period. It is also intended to provide members with information relating to clearing processes over this period. Please note that all times quoted in this circular are in GMT.
2. Exchange Opening Hours
The table below details the closing times of the various exchanges:
| NYSE Liffe | LME | Turquoise | Nodal | HKMEx | |
|---|---|---|---|---|---|
| 23 Dec 11 | Please refer to NYSE Liffe London Notice No.3526) | Open
| Open
(Half trading day closing 12.30 for Russian IOB and UK contracts) | Closed | Open
|
| 26 Dec 11 | Please refer to NYSE Liffe London Notice No.3526 Closed | Closed | Closed
| Closed | Closed |
| 27 Dec 11 | Please refer to NYSE Liffe London Notice No.3526 | Closed | Open Normal Business Day for NOK contracts
| Open
| Closed |
| 28 Dec 11 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
| Open
Normal Business Day |
| 29 Dec 11 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day | Open
| Open
|
| 30 Dec 11 | Please refer to NYSE Liffe London Notice No.3526 | Open
| Open
(Half trading day closing 12.30 for Russian IOB and UK contracts) | Open
| Open
|
| 02 Jan 12 | Please refer to NYSE Liffe London Notice No.3526 | Closed | Open Normal Business Day for NOK contracts (Russian IOB and UK contracts closed)
| Closed | Closed |
For the opening and trading hours of any EquityClear Exchanges or Multilateral Trading Facilities (MTF’s), please refer to the relevant Exchange or MTF for further details.
3. Clearing Hours
The table below details the operating times of the various LCH.Clearnet Ltd services
| EquityClear | RepoClear | EnClear
OTC Services | |
| 23 Dec 11 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 26 Dec 11 | Chi-East Service only | Closed | Closed |
| 27 Dec 11 | Open
Normal Business Day | Euro Service only | Closed |
| 28 Dec 11 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 29 Dec 11 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 30 Dec 11 | Open
Normal Business Day | Open
Normal Business Day | Open
Normal Business Day |
| 02 Jan 12 | Open
Normal Business Day | Euro Service only | Closed |
4. Deliveries/Expires
4.1 NYSE LIFFE
4.1.1 Financial Contracts
28 December 2011
Last Trading Day for the December 2011 Gilt contracts.
29 December 2011
Last Notice Day for the December 2011 Gilt contracts. Delivery notices must be submitted by 10:00 AM.
30 December 2011
Final settlement day for the December 2011 Long Gilt contracts.
4.1.2 Equity Contracts
4.1.2.1 Equity Option Exercise/Assignments
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on Individual Equity Options and Universal Stock Futures settling in CREST:
Exercise / Trade Date | Settlement Date |
|---|---|
| 20 December 2011 | 28 December 2011 |
| 21 December 2011 | 29 December 2011 |
| 22 December 2011 | 30 December 2011 |
| 23 December 2011 | 3 January 2012 |
| 28 December 2011 | 4 January 2012 |
| 29 December 2011 | 5 January 2012 |
| 30 December 2011 | 6 January 2012 |
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on Individual Equity Options and Universal Stock Futures settling in EUROCLEAR:
Trade Date | Settlement Date |
|---|---|
| 20 December 2011 | 27 December 2011 |
| 21 December 2011 | 28 December 2011 |
| 22 December 2011 | 29 December 2011 |
| 23 December 2011 | 30 December 2011 |
| 27 December 2011 | 2 January 2012 |
| 28 December 2011 | 3 January 2012 |
| 29 December 2011 | 4 January 2012 |
| 30 December 2011 | 5 January 2012 |
| 2 January 2012 | 7 January 2012 |
4.1.2.2 Stock Contingent Trades
The table below details trade and settlement dates in respect of deliveries resulting from Stock Contingent Trades settling in CREST:
| Exercise / Trade Date | Settlement Date |
|---|---|
| 21 December 2011 | 28 December 2011 |
| 22 December 2011 | 29 December 2011 |
| 23 December 2011 | 30 December 2011 |
| 28 December 2011 | 3 January 2012 |
| 29 December 2011 | 4 January 2012 |
| 30 December 2011 | 5 January 2012 |
The table below details trade and settlement dates in respect of deliveries resulting from Stock Contingent Trades settling EUROCLEAR:
| Trade Date | Settlement Date |
|---|---|
| 21 December 2011 | 27 December 2011 |
| 22 December 2011 | 28 December 2011 |
| 23 December 2011 | 29 December 2011 |
| 27 December 2011 | 30 December 2011 |
| 28 December 2011 | 2 January 2012 |
| 29 December 2011 | 3 January 2012 |
| 30 December 2011 | 4 January 2012 |
| 2 January 2012 | 5 January 2012 |
4.1.3 Commodity Contracts
29 December 2011
First Notice Day for the January 2012 Wheat contract.
4.2 Turquoise Derivatives
Equity Option Exercise/Assignments
The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on Turquoise Norwegian Equity Options settling in Norway:
Exercise/Trade Date | Settlement Date |
|---|---|
| 21 December 2011 | 27 December 2011 |
| 22 December 2011 | 28 December 2011 |
| 23 December 2011 | 29 December 2011 |
| 27 December 2011 | 30 December 2011 |
| 28 December 2011 | 2 January 2012 |
| 29 December 2011 | 3 January 2012 |
| 30 December 2011 | 4 January 2012 |
| 2 January 2012 | 5 January 2012 |
4.3 EnClear OTC Services
23 December 2011
The Expiry Day for Fertiliser, Freight Forward and Freight Option December 2011 contracts. Registration and clearing ceases at the normal business day times for these contracts.
30 December 2011
The Expiry Day for Steel, Containers, Iron Ore and Coal December 2011 contracts. Registration and clearing ceases at the normal business day times for these contracts.
4.4 LME
All LME and OTC Bullion delivery instructions will be processed at the normal times.
5 Treasury Operations
Cut off times for 23 and 30 December 2011 are as follows:
| Overnight PPS calls to be confirmed by: | 09:00hrs |
| Cash movement requests: | 09:30hrs |
| Intra-day margin calls made until: | 16:00hrs – London PPS
21:00hrs – US PPS |
Collateral: Dependent on each market, for clarification call Treasury Operations 0207 426 7593
All other dates over the period will operate a normal business day.
6 Further Information
Members should contact the relevant Exchange for opening hours on individual contracts.
For further information in relation to this circular please contact one of the following:
| NYSE LIFFE | Gerry Mundy / Kevin Watts
| 020 7426 7391/7699
|
| EquityClear | Diane Calligaro
| 020 7426 7638
|
| Turquoise Derivatives | Gerry Mundy / Kevin Watts
| 020 7426 7391/7699
|
| LME
| Tim Gutteridge / Kevin Watts
| 020 7426 7992/7699
|
| EnClear OTC Services
| Tim Gutteridge / Kevin Watts
| 020 7426 7992/7699
|
| Treasury Operations
| Siobhan White / Mike Jones | 020 7426 7044/7504
|
| RepoClear
| Mark Baker / Mark Shaw
| 020 7426 7660
|
Fil De Vivo
Director, Business Operations