LCH.Clearnet Ltd – Banking System Upgrade

Clearing Members are advised that LCH.Clearnet LTD is upgrading its Banking system in May 2014, the confirmed implementation date will be communicated in due course; however Clearing Members should be aware of the following minor business process changes and banking reporting improvements that will be introduced.

Minor Business Process Changes:

• Timing of Interest payments related to Default Fund contributions;
• Accrual period and Payment date changes related to the interest on Member cash collateral balances;
• Change to how SwapClear FRA Postings are reported;
• Change to how LME Prompt Postings are reported; and
• Change to the processing of Coupon payments for securities collateral.

Banking Report Improvements:

• REP00019 - Overnight Cover Distribution
• REP00022 – Yesterday’s Cover Account Postings
• REP00022a - Today’s Non-Cover Account Postings
• REP00029 – Yesterday’s Postings Total
• REP00032 - Member Default Fund
• REP00036 – Non Cash Collateral Holdings & REP00036a – SOD Non Cash Collateral Holdings
• I&A Invoice (REINVMR).TXT
• Statement of Account (RESMT01).TXT

Full details of the changes can be found in the attached document.

If you have any questions related to the implementation please email Collateral Services on collateral.services@lchclearnet.com.