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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 3044
 Service Circular No:EquityClear Circular No 208
Date:08 December 2011
To:All EquityClear Clearing Members

Delivery and settlement of Turquoise Derivatives physical deliveries through the EquityClear service

Clearing members are advised that from Monday 30 January 2012 all physically delivered underlyings resulting from Turquoise Derivatives contracts will be cleared through the EquityClear service and as such will become EquityClear contracts under the LCH.Clearnet Ltd (LCH.Clearnet) Rules and Regulations.

This change will support existing and future product initiatives on Turquoise Derivatives, with the initial benefits being the provision of margin offsets and optional cross trade source settlement netting to members. 

Members should be aware that there are a number of aspects to this change that may have an impact on their operational processes.  Members are encouraged to review the FAQ, which can found on the LCH.Clearnet website at the below address, for more detailed information on the potential impact and benefits to members.


Settlement of Norwegian Contracts

LCH.Clearnet will also be changing its standard settlement information (SSIs) for Norwegian deliveries. 

All Norwegian physical contracts with an intended settlement date of 2nd February onwards should contain the following settlement instruction details at Den Norske Bank.

BICNew Settlement Participant IdSafe Custody Account

Members requiring further information should contact Karen Swift on 020 7426 7562 [email protected]