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Originating department:SwapClear
Company Circular No:LCH.Clearnet Ltd Circular No 2574
Service Circular No:SwapClear 065
Date:27 January 2010
To:All SwapClear Clearing Members

SwapClear: Extended Opening Hours

Dear SwapClear Member,

On Monday 8 February 2010, LCH.Clearnet is extending the SwapClear opening hours. This is the first in a series of planned extensions to opening hours that will increase the usability of the SwapClear service for customers beyond the Western European time zones and increase the responsiveness of the service for all participants.

Summary of Changes

SwapClear will be open for registration of trades from 07:30 to 19:30 London time, with LCH.Clearnet operations support hours extended to the same period. This is an extension at both ends of the day from current opening hours of 08:30 to 18:00.

An additional intra-day risk calculation will be performed in support of the additional opening period. As today, routine intra-day margin calls may be issued up to 18:30; but members should note that calls may be made at any time up to 21:00.

End of Day price capture times will be changed according to the following table. From Monday 8 February, all End of Day data will be checked and finalised at 19:30.


Current and Future Curve Instrument Snap Times



 Prior Service Hours

(08:30 - 18:00)

 From 8 February

(07:30 - 19:30)

 AUD LIBOR 12:00 12:00
 CAD LIBOR 18:00 19:30
 CHF LIBOR 16:15 16:15
 DKK LIBOR 16:00 16:00
 EUR LIBOR 16:15 16:15
 GBP LIBOR 16:15 16:15
 HKD LIBOR 12:00 12:00
 JPY LIBOR 12:00 12:00
 NOK LIBOR 16:00 16:00
 NZD LIBOR 12:00 12:00
 PLN LIBOR 16:00 16:00
 SEK LIBOR 16:00 16:00
 USD LIBOR 18:00 19:30
 ZAR LIBOR 16:00 16:00
 EUR OIS 18:15 18:15
 GBP OIS 17:15 17:15
 CHF OIS 17:15 17:15
 USD OIS 18:00 19:30

If you have any questions relating to this circular, please do not hesitate to contact me on +44 (0)20 7426 7608 or [email protected].

Yours sincerely

Martin Hadfield
SwapClear Commercial Services
LCH.Clearnet Limited