| LCH circular number: | 4201 |
| Date: | March 22, 2022 |
| To: | All Clearing Members |
Dear Member,
We would like to inform you of changes to the month end processing of February’s CSDR settlement fail penalties (the “CSDR Penalties”). This is to align with the changes announced by ECSDA, which can be found at: https://ecsda.eu/archives/13970.
The key changes are:
- 18th March to 30th March: CSDs to send monthly reports.
- 13th April: CSDs to process monthly payment of CSDR penalties.
LCH across both Ltd and SA EquityClear and SA RepoClear services will make the following adjustments to the reporting and penalty collection timetable
|
Daily Report |
Monthly Report |
CSDR Penalties Invoice and Payment |
|---|---|---|---|
Impact |
Any changes to February penalties received from CSDs in daily reports will be included in our daily reports |
Scheduling date changes in monthly reports |
Invoice and payment date impact |
EquityClear Ltd |
|
Month end report will be available about 11:05pm on 30th March |
CSDR Penalties will appear on the invoice of 11th April. Penalties will be collected/paid via PPS on 13th April – in line with the CSDs calendar. |
EquityClear SA |
DPEN accessible via Portal |
Monthly report MPEN via the Portal : - Partial MPEN on 18th March for the T2S CSDs (ESES, NBB, Interbolsa) - Full MPEN on 30th March a global monthly report including T2S CSDs and EB. |
CSDR Penalties will be collected/paid via T2 on 13th April – in line with the CSDs calendar. |
RepoClear SA |
|
The ITM monthly statement will be automatically published when we receive the CSD statements between both 18th March and 30th March. EOM monthly statement (which includes the global net amount) will be published as soon as possible after 30th March and no later than 12th April. |
CSDR Penalties will be collected/paid via T2 on 13th April – in line with the CSDs calendar. |
If you require additional information please contact :
> For EquityClear Ltd : securitiesclientserviceltd@lch.com
> For EquityClear SA: SAEquityClear@lch.com
> For RepoClear SA: repoclearclientserviceSA@lch.com
Securities Client Services