Intra-day Margin Call Improvements and New Banking Report

Intra-day Margin Calls

Following Circular Number 3088 dated 20 February 2012, LCH.Clearnet Ltd is making further improvements to the intra-day margin call process.

Where a Clearing Member has an intra-day margin call to be covered in cash via the PPS process, system generated emails will be sent out to advise and request that you refer to REP00033a (ITD PPS Movement Detail) for further information.

Clearing Members are also advised to monitor REP00033a on a regular basis, which is updated with intra-day margin call information throughout the day.  REP00031 (PPS Movement Totals) and REP00033 (ITD PPS Movement Detail) will continue to be made available, both of which are regularly updated with details of any intra-day margin calls.

An example of the system generated email is shown below:

From: Treasury Operations [mailto:"RMSTS::BNKECL_MGR"@lchclearnet.com]
Sent: 30 July 2012 07:22
To: Clearing Member
Subject: LCH CLEARNET CALL LONDON PPS ACCOUNT

****** Example ONLY ******
This is an automatic notification from LCH.Clearnet Limited of an Intraday Margin Call.

Please refer to report 33a for further details of the call and fund your account accordingly. 

Mnemonic:  Sub Account:     CCY:     
  XXX                H                 GBP

If you have any additional queries please contact the Treasury Operations team  on 020 7426 7505 or email [email protected]

Clearing Members are asked to provide a group email address for the purposes of receiving intra-day margin calls.  Email addresses must be provided for each mnemonic, sub account (i.e. H, C, B & E) that are currently in use for each location (i.e. UK and US PPS calls).  UK PPS emails will be sent between the hours of 07:00 and 16:00 and US PPS emails between the hours of 16:00 and 21:00 (London time). 
Intra Margin calls will continue to be made based on preferential currencies previously provided.  If you require any changes to your preferential currency, please complete the online form using the attached link:

http://www.lchclearnet.com/risk_management/ltd/preferential_currency_for_intraday_margin_calls_form.asp

This new process will replace the current phone calls advising members of an intra-day margin call and will go live on Monday 15 October 2012.

Please can you send your nominated group email addresses to [email protected] by no later than Wednesday 10 October 2012.

If you have any questions relating to the intra-day margin improvements please contact Treasury Operations using the above email address or by phone on +44 (0) 20 7426 7505.

New Non Cash Collateral Holdings Report

Clearing Members are advised that a new report (REP00035 – Non Cash Collateral Holdings) is being made available advising of non cash collateral holdings.  The report will enable Clearing Members to independently validate cover value calculations and is updated intra-day and at end of day.  The report is segregated by collateral group and contains information including haircuts and pay down factors.

The new report will be available in .txt and .pdf format and will be available from Friday 21 September 2012 onwards.

If you require an example of the new report or have any questions please email Treasury Operations using [email protected] or phone: +44 (0) 20 7426 7593.