Cash, Derivatives, Fixed Income & Triparty Repos
Rulebook Overview
These rules that are governed by French law consist in:
Title I: General Provisions and Legal framework
Titles II: Membership
Titles III: Clearing operations
Title IV: Risk Management
Title V: Triparty Repo clearing services
Useful Links
The Instructions
Title I – General Provisions and Legal Framework
Chapter 2 – General Provisions
Title I – General Provisions and Legal Framework: Chapter 2 – General Provisions
Chapter 3 – Legal Framework
Title I – General Provisions and Legal Framework: Chapter 3 – Legal Framework
Title II – Membership
Chapter 1 – General Provisions
Title II – Membership: Chapter 1 – General Provisions
Chapter 2 – Legal Obligations
Title II – Membership: Chapter 2 – Legal Obligations
Chapter 4 – Information Obligations and Audit
Title II – Membership: Chapter 4 – Information Obligations and Audit
Title III - Clearing Operations
Chapter 1 – Registration
Title III - Clearing Operations: Chapter 1 – Registration
Chapter 4 – Settlement and Delivery
Title III - Clearing Operations: Chapter 4 – Settlement and Delivery
Title IV - Risk Management
Chapter 1 – General Provisions
Title IV - Risk Management: Chapter 1 – General Provisions
Chapter 2 – Margin Requirements
Title IV - Risk Management: Chapter 2 – Margin Requirements
Chapter 3 – Default Fund
Title IV - Risk Management: Chapter 3 – Default Fund
Chapter 4 – Collateral
Title IV - Risk Management: Chapter 4 – Collateral
Chapter 5 – Event of Default
Title IV - Risk Management: Chapter 5 – Event of Default
Title V - Triparty Repo Clearing Services
Title V - Triparty Repo Clearing Services
Notices
Notices state operational details such as delivery process applied to commodities contracts and other information such as timeframes or prices. Access the full suite of LCH SA legal notices on our SA Member Updates page.
Over-the-counter Credit Default Swaps
CDS Clearing Rule Book
- CDS Clearing Rule Book (last updated Febryary 01, 2024)
FCM/CDS Clearing Regulations
- FCM/BD CDS Clearing Regulations (last updated September 26, 2023)
CDS Clearing Supplement
- CDS Clearing Supplement (last updated September 26, 2023)
The Procedures
- Section 1: Membership (last updated July 18, 2019)
- Section 2: Margin, NPV Payment and Price Alignment (last updated September 26, 2023)
- Section 3: Collateral,Variation Margin and Cash Payment (last updated September 26, 2023)
- Section 4: Eligibility Requirements (last updated August 03, 2021)
- Section 5: CDS Clearing Operations (last updated September 26, 2023)
- Section 6: CDS Default Fund (last updated October 26, 2020)
- Section 7: Business Continuity (last updated December 16, 2014)
- Section 8: Disciplinary Proceedings (last updated October 26, 2020)
- Section 9: Complaint Resolution (last updated May 09, 2012)
Legal Notices
Access the CDSClear Clearing Notices.