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| Company Circular No: | LCH.Clearnet Ltd Circular No 3401 |
| Date: | 31 December 2013 |
| To: | All LCH.Clearnet Ltd Clearing Members (excluding FCM Clearing Members) |
LCH.Clearnet Ltd - Clarification of margin and netting provisions
On 31 December 2013 LCH.Clearnet Ltd updated its Rulebook in order to clarify certain provisions dealing with, or impacting on, margin-taking, payment netting and close-out netting. The intention was to increase transparency as to how the LCH.Clearnet Ltd collateralisation mechanics work.
This will not lead to any change in practice at LCH.Clearnet Ltd (operational or otherwise) and are intended to codify LCH.Clearnet Ltd’s legal rights or obligations as they are generally understood in a manner which allows for greater legal certainty.
Please refer to member circular No. 3391 dated 5 December 2013 for further details. The member circular can be found here: For any queries relating to these changes, please contact [email protected].