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Company Circular No:

LCH.Clearnet LLC Circular No 20

Date:25 November 2013
To:All Clearing Members

Changes to fees for LLC Protected Payments System (PPS*) services

Members are advised that with effect from 1 January 2014, all UK and US banks offering the PPS* service will be charging LCH.Clearnet LLC for transaction costs relating to all PPS call/pays. As a consequence, LCH.Clearnet LLC intends to pass these charges on to members. Members will be advised of the amount of a fee via a circular.

Please ensure that this information is circulated to the relevant area within your organization.

*PPS is LCH.Clearnet LLC’s direct debit system for the transfer of funds to and from clearing members.