The LCH Limited (“LCH”) rulebook consists of the:
- General Regulations, Default Rules, Settlement Finality Regulations and Procedures (in relation to LCH members, which are not FCM members, Sponsored Clearing members or Guaranteed Sponsored Clearing members);
- FCM Regulations, Default Rules and FCM Procedures (in relation to FCM members);
- Sponsored Clearing Regulations, Default Rules and Sponsored Clearing Procedures (in relation to Sponsored Clearing members); and
- Guaranteed Sponsored Clearing Regulations, Default Rules and Guaranteed Sponsored Clearing Procedures (in relation to Guaranteed Sponsored Clearing members).
LCH periodically amends its rulebook. Before doing so, it will submit its proposed amendments to LCH members for consultation or notification on the Member Updates website (within a member notice called “LCH Limited rulebook – proposed amendments”). LCH will typically publish such member notices on 10 and 25 of each month (or, if not an LCH business day, on the next LCH business day). Where LCH publishes member notices outside of those cyclical dates, it will also email such notice to LCH members.
Please review the Member Updates webpage to be aware of proposed LCH rulebook amendments.
Rulebook
- General Regulations (last updated 12 June 2026)
- Default Rules (last updated 23 March 2026)
- Settlement Finality Regulations (last updated 21 July 2025)
- Sponsored Clearing Regulations (last updated 6 March 2026)
- Guaranteed Sponsored Clearing Regulations (last updated 23 June 2026)
Procedures
- Section 1 - Clearing Member and Dealer Status (last updated 16 April 2026)
- Section 2A - NOT USED (last updated 7 April 2016)
- Section 2B - RepoClear Service (last updated 13 February 2026)
- Section 2C - SwapClear Service (last updated 12 June 2026)
- Section 2D - EquityClear Service (last updated 6 July 2026)
- Section 2E - NOT USED (last updated 5 April 2018)
- Section 2F - NOT USED
- Section 2G - NOT USED
- Section 2H - NOT USED
- Section 2I - ForexClear Service (last updated 3 June 2026)
- Section 2J - Listed Interest Rates Service (last updated 30 June 2025)
- Section 2K - NOT USED
- Section 3 - Financial Transactions (last updated 6 March 2026)
- Section 4 - Collateral (last updated 9 September 2025)
- Section 5 - Disciplinary Proceedings (last updated 12 November 2020)
- Section 6 - Business Continuity (last updated 30 June 2025)
- Section 7 - Appeal Procedures (last updated 12 November 2020)
- Section 8 - Complaints (last updated 7 February 2022)
- Sponsored Clearing Procedures (last updated 6 March 2026)
- Guaranteed Sponsored Clearing Procedures (last updated 6 March 2026)
FCM Rulebook
The LCH Limited FCM rulebook consists of a number of parts: the FCM Regulations, the FCM Procedures and the Default Rules.
For the avoidance of doubt the Product Specific Contract Terms and Eligibility Criteria Manual does not form part of the FCM Rulebook.
- FCM Regulations (last updated 12 June 2026)
- FCM Procedures (last updated 12 June 2026)
- Default Rules (last updated 23 March 2026)
Product Specific Contract Terms and Eligibility Criteria Manuals
- Product Specific Contract Terms and Eligibility Criteria Manual (last updated 3 June 2026)
- FCM Product Specific Contract Terms and Eligibility Criteria Manual (last updated 3 June 2026)
Digital Services Manual
- Digital Services Manual (last updated 25 January 2023)