INTERNATIONAL: LCH SA Allows Splitting Instructions of Corporate Event

Tuesday February 14 2017

LCH SA has announced that Pursuant to Article 6 of Instruction III.4-1, in case of an “elective” Corporate Event, and upon request of a Clearing Member, LCH SA will split the instructions, and send them to the Securities settlement system, in order to allow their partial settlement.

This service will be charged by LCH SA to the Clearing Member according to the fee grid available on its website.

This request shall be processed by LCH SA provided that the following conditions are met:

• There is an “elective” Corporate Event;
• The request shall be properly filled in, signed by an authorised signatory and sent by email to the following email address: cashequities.ops.sa@lch.com ;
• Each instruction may be split twice as a maximum; and
• The request shall be submitted to LCH SA before 2:00 pm CET on the Clearing Day before the relevant market deadline applicable to the Corporate Event.

Any request exceeding one of these limits shall not be processed by LCH SA.

In case of exceptional circumstances, LCH SA may accept to extend this service to standard instructions for payment and delivery, provided that the request shall be submitted to LCH SA before 2:00 pm CET, and at the latest on intended Settlement Date +4. However, in such exceptional circumstances, LCH SA reserves its right to refuse to provide this service on reasonable grounds.

Click on the link above for further details.