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Market:Bonds and Repos
Products:Spanish governent bonds
Date:28 January 2011

Bonds and Repos Spanish government bonds: Direct account with Iberclear

Since 17 December 2010, LCH.Clearnet SA offers clearing services for the Spanish government bonds with settlement in Iberclear, the domestic CSD, accepting trades from ICAP/BrokerTec, MTS Repo Market and ETCMS.

LCH.Clearnet SA is pleased to announce that a direct account has been opened with Iberclear with a move to production expected on Friday, 25 February 2011.

Account number with Iberclear

As a direct participant on the CADE platform, LCH.Clearnet SA will use the newly created account number 3863 to match and settle its instructions in Iberclear on a gross basis.

Changes in SSI communication

Once live, all settlement instructions will need to be matched and settled against LCH.Clearnet SA only, i.e. BNP Paribas Madrid must not appear in the SWIFT messages that clients or their settlement agent are generating and sending to Iberclear.

Details of the SWIFT messages to be generated by clients or settlement agents:
95P: DEAG or REAG //BACPFRPPXXX
95P :DECU or RECU //BACPFRPPXXX
95P :SELL or BUYR //BACPFRPPXXX

For all operational queries, please contact: Lchclearnetsa_DO_FIXEDINCOME@lchclearnet.com
+33 (0) 1 7037 6519

Service updates and roadmap

LCH.Clearnet SA is progressing to offer netting facilities under PoA and to accept Cash transactions with an expected implementation by Q2 2011.
A planning will be communicated within the coming weeks with the features of the service.

Members interested in clearing Spanish Government debt can find further information here.

For further information, please contact:

Your account manager:
Michel Bokobza: +33 (0) 1 70 37 65 55 michel.bokobza@lchclearnet.com
or your LCH.Clearnet SA product implementation manager:
Mykael Lemosle: +33 (0) 1 70 37 65 27 mykael.lemosle@lchclearnet.com

Customer and Market Management LCH.Clearnet SA

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