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| Markets: | Fixed Income |
| Products: | French Bonds |
| Date: | 18 October 2011 |
Harmonisation of French debt denomination
UNT / FMT migration in production
LCH.Clearnet is pleased to confirm the launch of the French debt denomination harmonisation project on Monday 24 October 2011. As a reminder, the project aims to:
- Harmonise the denomination used for clearing and settlement of French debt instruments from units (UNT) to facial amount (FMT);
- In parallel extend the reform of the accrued coupons from 3 to 7 decimals for French debt in production the same date.
The migration will start the Friday 21 October 2011 evening, all the products in scope, static data, stocks, and flows will be converted in « one-shot » from UNT to FMT.
Reminder launch principles
On Friday 21 October 2011, clients’ report files and messages will be available in two phases:
- As from close of business until migration: clients’ report files containing the trades of the day will be available following the regular schedule with a denomination in unit.
- After migration: clients’ report files containing settlement information will be available once the migration/conversion will be completed with a denomination either:
- in unit: for positions settled on Friday 21 October 2011;
in facial amount: for the positions which Intended Settlement Date is Monday 24 October 2011 or after.
As from Monday 24 October 2011, all clients’ report files will be available with a denomination in FMT and accrued interest with 7 decimals.
As a reminder, list of reports including a field with the notion of “quantity”:
| TRAD | Real time trade report |
| DNET | Detail of Net Instructions |
| GROS | Details of Gross Instructions |
| DTRD | Trades of the day |
| MARG | Positions & Margins |
Launch support
A specific client’s support will be set up during the launch to attend clients in their migration on the evening of Friday 21 October 2011. It will be performed by your Product Implementation Manager: Jean-Bertrand Lesparre.
For further information and for requesting support, please contact:
Your LCH.Clearnet SA Product Implementation manager:
Jean-Bertrand Lesparre: +33 (0) 1 70 37 66 46 – Mobile : +33 6 79 72 21 21
[email protected]
Or your account manager.
Customer and Market Management LCH.Clearnet SA