| LCH circular number: | 4271 |
| Date: | September 13, 2023 |
| To: | All SwapClear Users |
On 1st August LCH Ltd (“LCH”) issued LCH Circular No 4269 which announced the launch of a consultation regarding the treatment of outstanding cleared CAD CDOR SwapClear Contracts at or around the Index Cessation Effective Date and their potential conversion into (or replacement with) corresponding CORRA-based SwapClear Contracts [1].
The consultation document addressed to all SwapClear users is available on LCH’s website [2], and it includes instructions on how to respond.
LCH hereby announces an extension of the response deadline for this consultation. LCH now requests responses to be submitted by 29th September 2023.
LCH strongly encourages all SwapClear users to respond to this consultation and to express their opinion on our proposed approach in order that we have the widest set of feedback on which to proceed with next steps.
Any solution will be subject to risk governance and legal review and regulatory non-objection.
Should you have any comments or questions, or if you require further information, please do not hesitate to contact CADConversion@lseg.com.
_____________________________________________________________________________________