Business Streams
New Clearing Member Training
Course objective
New Clearing Member Training courses provide detailed procedural training to equip risk and back office operational staff with the required knowledge for the contracts and markets they will be clearing.
Audience level
New Clearing Member Training is mandatory for risk and back office operational staff within new Clearing Member firms, and those extending their Clearing Member status to another service. Training requirements are assessed on a case by case basis; in order to ensure that the training delivered is tailored appropriately, according to the audience level.
Cost
New and extending Clearing Member firms are allocated free places on training courses that are arranged as part of the application process.
Timescales
Once a go-live date has been agreed with LCH.Clearnet, the Client Training team will contact new and extending Clearing Member applicants to arrange a mutually convenient date to schedule training, which is typically arranged to take place within two weeks prior to the confirmed go-live date.
Please select one of the links below to obtain further information on the New Clearing Member Training.
Refresher Training
Course objective
Refresher training provides detailed procedural training to equip risk and back office operational staff with the required knowledge for the contracts and markets they clear.
Audience level
Refresher training can be arranged for existing Clearing Member firms, and is tailored according to the audience level.
Cost
Training fees are calculated based on a daily rate of £500 plus VAT per delegate.
Charges for training cover the cost of training material and administration only and must be paid in full at least two weeks prior to each course date. Cancellations received within 24 hours prior to commencement of any course will carry a cancellation fee equivalent to 50% of the total cost of the course. Please note that training fees will not be refunded if delegates are unable to attend on the day, although alternative delegates will be accepted.
Existing Clearing Member firms can arrange refresher training by contacting the Client Training team:
 | Telephone: | +44 (0)20 7426 7586/3724 |
 | Email: | trainingandeducation@lchclearnet.com |
Please select one of the links below to obtain further information on refresher training.
Clearing for EquityClear
This course assumes that delegates have an understanding of equity products. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- Clearing and settlement procedures
- Risk management and margining - including a demonstration of PC ERA (Equity Risk Analysis)
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
Clearing for HKMEx
This course assumes that delegates have an understanding of futures contracts. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- Clearing, delivery and settlement procedures for HKMEx contracts, including a demonstration of ECS
- Risk management and margining for HKMEx contracts
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
In addition to the training detailed above, the following Reference Guides are also available:
- Extensible Clearing System (ECS) Reference Guide – HKMEx
- Deliveries Reference Guide for HKMEx Gold and Silver Contracts
Extensible Clearing System (ECS) Reference Guide – HKMEx (Reference Guide)
Objective
The purpose of this Reference Guide is to provide a detailed explanation of the Extensible Clearing System (ECS) for HKMEx Clearing Members.
Content
The Reference Guide includes information on:
- Accessing ECS
- Viewing position and contract information, and position activity
- Performing close-outs/position adjustments
- Account management
- Viewing HKMEx and ECS holidays
- A glossary of terms
Please complete the Reference Guide Request Form to obtain a copy via email.
Deliveries Reference Guide for HKMEx Gold and Silver Contracts (Reference Guide)
Objective
The purpose of this document is to provide a detailed reference guide for back office operational staff at HKMEx Clearing Member firms, who are responsible for processing deliveries.
LCH.Clearnet delivery procedures, for both gold and silver contracts, are detailed in this document and back office operational staff at HKMEx Clearing Member firms must ensure that they are fully conversant with these procedures, prior to making or taking delivery.
This document has been designed as a reference guide for HKMEx deliveries, and should be used in conjunction with both LCH.Clearnet and HKMEx Rules and Regulations.
Content
The Reference Guide includes information on:
- Timeframes for trading
- Last trading day (LTD)
- First business day after LTD (LTD+1)
- Alternative delivery procedure (ADP) (LTD+2)
- Buyer's security (LTD+3)
- Delivery day (LTD+4)
- Deliveries timetable
- Glossary of terms
Please complete the Reference Guide Request Form to obtain a copy via email.
Clearing for LCH EnClear OTC Services
This course assumes that delegates have an understanding of products traded on the LCH EnClear OTC Services markets and the role and function of LCH.Clearnet. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- Clearing and settlement procedures
- LCH EnClear OTC Services workshop
- Risk management and margining for LCH EnClear OTC Services contracts
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
Clearing for the LME
This course assumes a basic understanding of London Metal Exchange (LME) contracts. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- Risk management and margining for LME contracts
- Synapse System workshop
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
In addition, the London SPAN Margining for the LME workshop can be arranged upon request.
Associated training
LMEselect, LMEsmart and LMEsword training courses are provided by the LME on request. These are typically provided only for new Exchange members as part of the membership application process.
For further details about LME training and educational events, contact the following:
| Telephone: | +44 (0)20 7264 5555 |
| Email: | education@lme.com |
To arrange a visit to the LME Ring, complete the form found on the website www.lme.com and select the following, in order:
About the LME / Visit the LME / Security Form.
Once completed, please send either by fax to +44 (0)20 7264 5536 or by e-mail to facilitieshelpdesk@lme.com.
Clearing for the Nodal Exchange
This course assumes that delegates have an understanding of Nodal Exchange contracts. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- Clearing and settlement procedures (including TRS/CPS)
- Risk management and margining
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
Clearing for NYSE Liffe
The Clearing for NYSE Liffe course is a three-day scheduled course, providing a comprehensive grounding in futures and options contracts, and clearing and settlement procedures. It emphasises the importance of the back office and its role in risk management through lectures, case studies and practical examples.
This course assumes delegates have an understanding of the basics of futures and options, although this is covered within the course content. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
The Clearing for NYSE Liffe course has been designed to include the following sessions:
- Understanding the types of risk
- Understanding the underlying products
- Overview of derivatives
- The life-cycle of a trade
- Overview of the main functions of TRS and CPS
- Margining
- Treasury and banking
- Delivery, exercise and settlement
- The UK regulatory environment
Please refer to the Clearing for NYSE Liffe course page for further details regarding course content, and for a list of scheduled dates.
Clearing for RepoClear
This course assumes that delegates have an understanding of repo instruments. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- RepoClear operations
- Risk management and margining
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
Clearing for SwapClear
This course assumes that delegates have an understanding of interest rate swap products. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- SwapClear operations
- Risk management and margining
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
Associated training
Further information about MarkitWire can be obtained by accessing www.markitserv.com. For specific questions, please contact:
Christian Kjaeldgaard
| Telephone: | +44 (0)20 3367 0348 |
| Email: | christian.kjaeldgaard@markitserv.com |
Customer Services
| Telephone: | +44 (0)84 4994 7378 |
| Email: | support@markitserv.com |
Clearing for Turquoise Derivatives
This course assumes that delegates have an understanding of Turquoise Derivatives products. If required, introductory training on the products in which LCH.Clearnet offers central counterparty services is provided on Understanding the Markets.
Tailored training programmes will be designed for your organisation's specific requirements, which could include the following sessions:
- Clearing and settlement procedures
- Risk management and margining
- Treasury operations, Banking reports reconciliation, and collateral lodgement and withdrawal procedures
Please refer to the standard training programme for further details on the content of each module of the course.
Associated training
Training on the Bourse Italiana Clearing System (BCS) is arranged by the Turquoise Derivatives Member Services team on request. This is typically provided only for new Exchange members as part of the membership application process.
For further details about Turquoise Derivatives training, please contact the following:
Member Services
| Telephone: | +44 (0)20 7797 4333 |
| Email: | memberservices@tradeturquoise.com |
Banking Training
Banking Reports Reference Pack (Reference Pack)
Objective
The Reference Pack has been designed to assist Clearing Members with the reconciliation of cash flows between the LCH.Clearnet Banking system and Clearing Member back-office systems. It provides an explanation of the standard Banking reports that Clearing Members are required to check on a daily basis.
Content
The Reference Pack includes:
- Instructions on how to access the Banking reports
- Detailed reports by market
- Generic Banking reports, which relate to all markets
- A glossary of terms
Please complete the Reference Guide Request Form to obtain a copy via email.
