How It Works - LCH.Clearnet Ltd

Clearing operates through the principle system TRS/CPS (Trade Registration System/Clearing Processing System) Registration of matched transactions presented to LCH.Clearnet does not occur on a continuous basis during the day, but occurs one hour after TRS’s end of day signal is sent to LCH.Clearnet.

TRS/CPS is open for the registration of trades between 01.00 hrs and 21.15 hrs London time. On receipt and confirmation of eligible transactions into the TRS/CPS system, trades are governed under the rules of the LCH.Clearnet rulebook.

Initial margin rate levels are reviewed periodically by LCH.Clearnet to reflect inherent market volatility. Daily and final settlement of contracts is based on prices provided by NYSE Liffe.

Members of NYSE Liffe and LCH.Clearnet are eligible to clear products subject to approval. More information on becoming a member can be found here.

How It Works - LCH.Clearnet SA

Clearing operates through the Derivatives Clearing System. Trades are matched on the LIFFE CONNECT platforms, registration of matched transactions presented to LCH.Clearnet occurs on a real time basis.

The Derivatives Clearing System is open for the registration of trades between 07.30 ECT and 20.00 ECT.

On receipt and confirmation of eligible transactions into the Derivatives Clearing System, trades are governed under the rules of the LCH.Clearnet SA rulebook.

Once the positions at the end of the trading day have been determined, LCH.Clearnet calculates the premiums, initial margin and variation margin to be paid or received by each clearer. After the exercise/assignment of products for cash settlement, an amount is to be received or paid by the CMF.

Members of NYSE Liffe and LCH.Clearnet are eligible to clear products subject to approval. More information on becoming a member can be found here.