Business Streams

Company Circular No:LCH.Clearnet Ltd Circular No 3036
 Service Circular No:EquityClear Circular No 3132
Date:03 April 2012
To:All EquityClear and Turquoise Derivatives Clearing Members

Buying-in process for Depositary Receipts

Dear Member

We would like to advise you that, effective 16 April 2012, trades in Depositary Receipts that remain unsettled on Intended Settlement Date (ISD) +5 days, will be subject to a potential buy-in.
Those parties that have not taken delivery of the securities on ISD + 5 can request us to buy-in. If requested, we will initiate the buy-in process against the failing seller.

If no request is made, our buying-in process will be activated on ISD + 30.

Members requiring further information should contact Ian Mackenzie on 020 7426 7265 ian.mackenzie@lchclearnet.com 

Yours sincerely
Wayne Eagle, Executive Director, LCH.Clearnet EquityClear