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Company Circular No:

LCH.Clearnet Limited Circular No 3382

Date:02 December 2013
To:All LCH.Clearnet Ltd  Clearing Members

Christmas and New Year Opening Times

Introduction

The purpose of this circular is to inform members of the opening and closing times for the clearing hours for 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.

Clearing Hours

The table below details the operating times of the various LCH.Clearnet Ltd services

 EnClear OTC ServicesEquityclearForex/SwapClearLME
24 Dec 13Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
26 Dec 13ClosedOpen
Normal Business Day
Open
Normal Business Day
Closed
27 Dec 13Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
31 Dec 13Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
02 Jan 13Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day

 LSE Derivative MarketsNLXRepoClearNodal
24 Dec 13Clearing closed
14.00PM
Clearing closed
13.45PM
Open
Normal Business Day
Closed
26 Dec 13ClosedClosedClosedOpen
Normal Business Day
27 Dec 13Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
31 Dec 13Clearing closed
14.00PM
Clearing closed
13.45PM
Open
Normal Business Day
Clearing closed
20.00PM
02 Jan 13Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day
Open
Normal Business Day

LSE Derivatives Markets

Equity Option Exercise/Assignments

The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on LSE Derivatives Norwegian Equity Options settling in Norway. Please note the Norwegian Market is closed on the 24th and 31st December 2013:

Exercise/Trade DateSettlement Date
19 December 201327 December 2013
20 December 201330 December 2013
23 December 20132 January 2014
27 December 20133 January 2014

The table below details trade and settlement dates in respect of deliveries resulting from exercise and assignments on LSE Derivatives Russian Equity Options settling in Euroclear:

Exercise/Trade DateSettlement Date
20 December 201326 December 2013
23 December 201327 December 2013
24 December 201330 December 2013
27 December 20132 January 2014
30 December 20133 January 2014
31 December 20136 January 2014

NLX

Gilt Futures Exercise/Assignments

The table below details trade and settlement dates in respect of Gilt deliveries resulting from exercise and assignments on NLX Gilt Futures settling in Euroclear EUI:

Exercise/Trade DateSettlement Date
20 December 201324 December 2013
23 December 201327 December 2013
24 December 201330 December 2013
27 December 201331 December 2013
30 December 201331 December 2013

EnClear OTC Services

24 December 2013

The Expiry Day for Freight Forward and Freight Option December 2013 contracts. Registration and clearing ceases at the normal business day times for these contracts.

30 December 2013

The Expiry Day for Coal Futures December 2013 contracts. Registration and clearing ceases at the normal business day times for these contracts.

31 December 2013

The Expiry Day for Steel, Iron Ore, Futures and Options December 2013 contracts. Registration and clearing ceases at the normal business day times for these contracts.

LME

All LME and OTC Bullion delivery instructions will be processed at the normal times.

Please note that the January 2014 Option Declaration will be on Thursday 2nd January.

Collateral Operations

Cut off times for 24 and 31 December 2013 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 Collateral Operations 0207 426 7593

All other dates over the period will operate a normal business day.

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:

EnClear OTC ServicesGerry Mundy / Kevin Watts020 7426 7688 / 7699
EquityClearAhmadou Toure020 7426 7671
ForexDavid Fitzgerald020 7426 3749
LME / NodalGerry Mundy / Kevin Watts020 7426 7688 / 7699
LSE Derivatives MarketsGerry Mundy / Kevin Watts020 7426 7688 / 7699
NLXGerry Mundy / Kevin Watts020 7426 7688 / 7699
RepoClearMark Shaw020 7426 7660
SwapClearBoaz Schechter020 7426 3797
Collateral OperationsCollateral Operations020 7426 7504