| LCH circular number: | 4084 |
| Date: | March 23, 2020 |
| To: | All LCH Ltd, LCH SA and LCH SwapAgent Ltd Members |
We are writing to update you on LCH Group’s approach to managing our business during the global Coronavirus (COVID-19) pandemic.
As a systemically important institution, LCH Group’s main priorities are ensuring the orderly functioning of markets, continuity of service to our customers and supporting financial stability.
LCH Group has robust business continuity arrangements in place to ensure the safe and orderly conduct of our businesses and clearing operations around the world. LCH continues to operate as normal across all of its clearing services, notwithstanding the recent market volatility and trading volumes.
As a global company, we have a number of measures in place for the protection of our customers and employees, including limiting non-essential travel and asking some of our employees to work from home – remotely or in split site teams across certain businesses and countries to mitigate the spread of the Coronavirus (COVID-19). LCH is closely monitoring the Coronavirus pandemic and is in close contact with our regulators, governments, international health organisations, and stakeholders around the world and will continue to adjust our response as needed.
We thank you for your continued support during this period and look forward to continuing to partner with you in 2020 and beyond.
Please do not hesitate to contact us directly if you would like to discuss further.
Daniel Maguire, CEO, LCH Group
Isabelle Girolami, CEO, LCH Ltd.
Christophe Hemon, CEO, LCH SA