| Market: | Ltd |
| Products: | Cash |
| Date: | 03 October 2006 |
Project: Sterling GC
Member Test Update: Cycle 1
Dear RepoClear Participant
I am pleased to inform all participants of the Sterling GC Test programme, that the first stage Scripted Connectivity Test with LCH.Clearnet, and the optional member testing has been concluded successfully with the following results:
The core Sterling GC process testing has functioned to expectation with no issues reported;
A number of Member Reporting issues were logged at the beginning of the optional member testing, resulting in three changes being made to report formats;
ICAP Electronic Broking connectivity is functioning correctly from the LCH.Clearnet perspective;
One participant has experienced connectivity problems accessing the RepoClear test web-site, however, this is in the process of being resolved;
Participants are advised that, following the closing of the Scripted Connectivity Test with LCH.Clearnet, and the optional member testing, all test trades and associated reports have now been purged from the test platform. In the event that you require access to this historic test data, please contact the Implementation Team.
Cycle 1
Cycle 1 begins today and will follow the timeline below:
3 October 2006 - Start of Mandatory Scripted Member Test (not supported by CRESTCo)
6 October 2006 - Close of Mandatory Scripted Member Test
The following timetable will apply for each scripted day of Cycle1:
Trade input cut-off 10 a.m.
Sterling GC clearing and settlement from 12 noon
Sterling GC EOD including RepoClear reports update no later than 3 p.m.
Concurrent to the above scripted testing, LCH.Clearnet are also asking participants to ensure connectivity to the Member Test CRESTCo GUI, in order to parameterise the Direct Input functionality as required by CRESTCo. Participants are referred to the documentation sent out on the 27 September 2006, in order to enable this facility by close of business of the 4 October 2006. In the event that you are unsure about this then please contact the Implementation Team.
For further information on Sterling GC Implementation, Contact: Nathalie Parquic, LCH.Clearnet Implementation Team, Tel: +44 207 426 7889, E-mail: nathalie.parquic@lchclearnet.com