| LCH circular number: | 4382 |
| Date: | June 18, 2026 |
| To: | All LCH Clearing Members |
All clearing services of LCH Limited (“LCH”) will be open on Friday 3 July 2026 and will be subject to the normal business day processes including intraday margin calls and deadlines as detailed in the LCH Rulebooks, except as provided otherwise herein:
Margin Management
LCH requests that any USD denominated Collateral (cash or securities) in excess of Clearing Members' Initial Margin requirement are instructed prior to 14:00 (New York time) on Thursday 2 July. Any cash deliveries after this time, up until the open of the SwapClear service on Monday 6 July will be managed on an exception basis. Clearing Members may continue to provide cash collateral in response to a margin call or deliver non-cash collateral where ability permits. The Collateral Management System (CMS) cash deposit limits will reflect the above schedule.
FCM Clearing Members' excess cash balances will not be available for withdrawal on Friday 3 July.
LCH will not be processing any Bulk Events after MDR 2 on Friday 3rd July where a margin call is required to complete.
Terms used herein shall have the meaning assigned to them in the Rulebook or FCM Rulebook, as applicable. References to a ‘SwapClear Contract’ and a ‘SwapClear Clearing Member’ include an ‘FCM SwapClear Contract’ and an FCM Clearing Member.
For further information, please contact:
Collateral.ClientServices@lch.com
Stephen Woodley
Stephen.Woodley@lseg.com
Senior Manager Collateral Operations
Adelie Revolle
Adelie.Revolle@lseg.com
Senior Manager Collateral Operations
Andrew Warren
Andrew.Warren@lseg.com
Director, Collateral and Liquidity Management