Business Streams

Company Circular No:

LCH.Clearnet LLC Circular No 9

Service Circular No:SwapClear Circular No 94
Date:20 September 2013
To:All SwapClear Clearing Members

Association of Banks in Singapore changes to SGD-SOR reference rates

On September 30th 2013 the Association of Banks in Singapore will discontinue the calculation and publication of the existing SGD-SOR-Reuters rate (the “Old Rate”) and will begin publication of a new SGD-SOR-VWAP rate (the “Replacement Rate”) on 1 October 2013.

For more information please see:

http://www.abs.org.sg/pdfs/Financial/Consumers_faq/Trading_Protocol_Jun%202013.pdf

As a consequence of the above,  LCH.Clearnet LLC intends to take steps with respect to SwapClear US services such that:

Changes to the rulebook have been self-certified with the Commodity Futures Trading Commission and will become effective on October 4th 2013.

If you require additional information please contact Nicholas Varelakis on Tel: +1 212 513 8294 Email: nicholas.varelakis@lchclearnet.com