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Market:Bonds and Repos
Products:Spanish government bonds
Date:19 October 2011

Bonds and Repos Spanish government bonds: Update on the Roadmap

Executive summary

The Target solution is expected to go live on Friday 2 December 2011, subject to regulatory approval.

Action: Clients need to provide their operational contact for the launch.

Tests and go live preparation

Testing

End-to-end tests have been conducted successfully with the clearing members and a vast majority of the active clearing members on the Spanish market have completed their on-boarding.

The clearing platform remains available for testing; contact your product implementation manager for details.

Launch preparation

Important: Clients must provide their operational contact for the launch.

18 November: LCH.Clearnet will block the sending of any new settlement instructions with value date > 02/12;

19 November:

Between 19 and 23 November: Iberclear will cancel the instructions with value date > 02/12;

2 December:

Note that settlement instructions with value date = 05/12 that were previously cancelled, will be included into the first netting batch.

Next Step

On 19 November, LCH.Clearnet will send to each client the list of settlement instructions to be cancelled with value date > 02/12.

For further information, please contact:

Your LCH.Clearnet SA product implementation manager:

Mykael Lemosle: +33 (0) 1 70 37 65 27 mykael.lemosle@lchclearnet.com
Or your account manager
Michel Bokobza: +33 (0) 1 70 37 65 55 michel.bokobza@lchclearnet.com
Mireille Van den Neucker: +32 (0) 2 274 55 10 mireille.vandenneucker@lchclearnet.com

Customer and Market Management LCH.Clearnet SA

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