Successful management of the Cyprus Popular Bank Co Ltd default

Further to yesterday’s Default Notice in respect of Cyprus Popular Bank Co Ltd, LCH.Clearnet Ltd (“LCH.Clearnet”) is pleased to announce that all of the positions have been resolved. The default was managed within margin and with no recourse to the general default fund. LCH.Clearnet will be certifying a net sum to return the balance of funds to the bank’s administrator accordingly.

Cyprus Popular Bank was an LCH.Clearnet EnClear Clearing Member holding Freight positions only.