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Company Circular No:

LCH.Clearnet Ltd Circular No 3213

Service Circular No:EquityClear Circular No 227
Date:25 October 2012
To:All Equity Clearing Members


EquityClear service to include The London Stock Exchange International Board

From 19 November 2012, and subject to regulatory approval, LCH.Clearnet will clear trades executed on the London Stock Exchange International Board.

Initially we will clear London traded, Singapore Stock Exchange (SGX) constituents of Strait Times Index (STI30) and MSCI Singapore Index. 

All London Stock Exchange International Board trades will be cleared through our EquityClear service. This will allow clearing members to benefit from margin off-sets and collateral efficiencies. Also any additional volume will be included in our global tariff structure, which will reduce the per unit cost of clearing.

Trades will be routed to LCH.Clearnet from The London Stock Exchange, then forwarded to the Singapore CSD (CDP) for settlement, where clearing members will be expected to match against our settlement instructions.

For further International Board service information, please review our FAQ paper on the following link http://www.lch.com/cash_equities/lse/technical_documents.asp

We will publish further information when it becomes available.

This service extension further highlights our commitment to our members and our ability to increase market coverage.

Members requiring further information should contact Ian Mackenzie

Tel: 020 7426 7265 

Email: ian.mackenzie@lchclearnet.com