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| Company Circular No: | LCH.Clearnet Ltd Circular No 3036 |
| Service Circular No: | EquityClear Circular No 3132 |
| Date: | 03 April 2012 |
| To: | All EquityClear and Turquoise Derivatives Clearing Members |
Buying-in process for Depositary Receipts
Dear Member
We would like to advise you that, effective 16 April 2012, trades in Depositary Receipts that remain unsettled on Intended Settlement Date (ISD) +5 days, will be subject to a potential buy-in.
Those parties that have not taken delivery of the securities on ISD + 5 can request us to buy-in. If requested, we will initiate the buy-in process against the failing seller.
If no request is made, our buying-in process will be activated on ISD + 30.
Members requiring further information should contact Ian Mackenzie on 020 7426 7265 [email protected]
Yours sincerely
Wayne Eagle, Executive Director, LCH.Clearnet EquityClear