| Market: | SmartPool |
| Products: | Cash |
| Date: | 21 August 2008 |
Clearing SMARTPOOL
Scope Reminder
Previous communications announced the selection of LCH.Clearnet SA to provide clearing services for transactions traded on SmartPool for NYSE-Euronext quoted securities.
Scheduled to go live at the end of September 2008, SmartPool is a new MTF market providing a dark pool for the execution of large institutional orders on pan-European stocks.
At the web address below members will find documentation and specifications concerning the project initiated by LCH.Clearnet SA to bring this new opportunity to our members.
Temporary Change to “Financial Market of the event”
An issue has been identified by some Members whereby they will not be able to process the Financial Market of the event dedicated for SmartPool (301) before the switchover to ESES, which is planned for the end of November 2008.
After analysing this issue with SmartPool, a decision has been made to temporarily change the value of the Financial Market of the event in the trade messages sent by SmartPool to LCH.Clearnet SA to the appropriate native Euronext value:
- Belgian Market securities – Financial Market 278
- Dutch Market securities – Financial Market 279
- French Market Securities – Financial Market 025
- Portuguese Market securities – Financial Market 290
LCH.Clearnet SA will in turn use these values when reporting trades to Members.
The Trading Venue reported by LCH.Clearnet will remain ‘SPOOL’
This decision has been taken to enable as many CMFs as possible to be SmartPool compliant when the market goes live.
Once the ESES migration has been completed, and a suitable period for settling into the new system has been observed, the Financial Market used for all SmartPool transactions processed by LCH.Clearnet SA will be 301. No date has been set for this change; however it will not be before Q1 2009.
The project‘s related documents and testing guide can be found on our website at the following address:
http://www.lchclearnet.com/projects/smartpool/smartpool_documents.asp
For further information, please contact your LCH.Clearnet SA Product Implementation manager:
Tom Badman: +33 (0) 1 70 37 67 69 – tom.badman@lchclearnet.com
or
François Marton : +33 (0) 1 70 37 67 54 – francois.marton@lchclearnet.com
or
your local Relationship Manager
Customer and Market Management LCH.Clearnet SA