LCH.Clearnet and ICEClear Joint Business Migration Approach

Dear Members

On Wednesday 18 June 2008 LCH.Clearnet and ICEClear Europe held an initial meeting with representatives from a small number of member firms and their back office systems providers. The aim of this meeting was for the two clearing houses to present a joint migration approach for the safe and orderly transition of open interest from one to the other. We received valuable feedback from members and suppliers alike and we have summarised this and appended it to the original presentation document attached.

We are keen to share the joint approach with the wider clearing member community to give you an update with our progress towards migration and to give you the opportunity to provide any feedback that you feel is appropriate at this point.

There are obviously a number of outstanding areas, which the joint clearing houses are addressing, and we will keep you up to date as we achieve resolutions to each. Not least we recognise that, as a priority, we need to engage with you, the members, and your technology providers to present the detail behind the migration and how we provide the opportunity to test this approach and to rehearse the proposed migration weekend activities in full. As we outlined, the clearing houses are working together to achieve an approach that gives all parties confidence that this migration can be executed with minimal risk of disruption to our orderly markets. 

We welcome and are thankful for your continued engagement and support as we progress with this approach. If you have any questions or comments about this e-mail or the attached presentation document then please feel free to contact us.
 

Richard Heyman
Director
Head of Customer Management

 Member Presentation - Outline Migration Approach.pdf