| Market: | All |
| Products: | Derivatives |
| Date: | 20 September 2007 |
Implementation of automatic Trade Deletion functionality in C21®
Announcement and project contacts form
Summary of the Project
Liffe NYSE Euronext (Liffe) intends to implement a project that will deliver a new release of LIFFE CONNECT® (CONNECT® 10.0). This update will allow Liffe to remain in line with its competitors and to offer an easier and cost effective service to its customers.
LCH.Clearnet SA would like to highlight the fact that the changes are mainly focused on the trading activity and there is no impact on clearing activity.
Otherwise, Liffe in cooperation with LCH.Clearnet SA will take this opportunity to develop a new functionality for automatic trade deletion that will replace the current manual procedure in CLEARING 21®. Today, trades are manually deleted by LCH.Clearnet SA Operations Department on Liffe’s request. The new functionality will allow the automatic deletion of trades in CLEARING 21®.
This project is to be implemented in the first release of CONNECT® 10.0 in Q4 2007.
You will be informed of the opening of a test session as soon as possible.
Technical Impact
Trades will be automatically deleted after reception of Liffe’s message in real time. In case of trade deletion, you will be informed by receiving the following messages from
CLEARING C21®:
a 5013 message (notice of trade leg deletion) related to a 5011 message (notice of trade leg creation)
a 5023 message (notice of posting deletion) related to a 5021 message (notice of posting creation)
a 5033 message (notice of give-up deletion) related to a 5031 message (notice of give-up creation)
The sending of these messages will only occur on D (trade date)
For give-up notices, the sending member (give-up) and the receiving member (take-up) will receive the same message (5033) as soon as the receiving member will have processed its takeup.
LCH.Clearnet will send the trade deletion message in automatic mode. Clearing Members and ISVs will manage it easily by integrating the message from C21®.
Detailed specifications will be issued as soon as possible.
Project Contact Form
LCH.Clearnet SA suggests that you appoint a dedicated project entry point and that you fill out the attached “Connect® 10.0 Contact persons form” (see the PDF version of this Info Flash). Please return it by e-mail or fax (see details below) by October 1st, 2007.
You will find all the information on the dedicated section implemented on www.lchclearnet.com.
For further information, please contact your LCH.Clearnet SA product implementation manager: Dorothée Fresneau: +33 (0) 1 70 37 66 05 dorothee.fresneau@lchclearnet.com or your local relationship manager.
Customer and Market Management LCH.Clearnet SA