|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|
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 firstname.lastname@example.org
Wayne Eagle, Executive Director, LCH.Clearnet EquityClear