Membership - SA

The main stages to become a LCH.Clearnet SA member

1. Applicant meets with LCH.Clearnet SA's commercial, member support and technical teams to address:

   • administrative aspects of membership for each market : requirements, application file, etc.
   • technical aspects : presentation of market access solutions, architecture requirements, costs, service providers, etc.
   • Applicant decides whether to outsource back-office functions.
     
     

2. Applicant conducts in-house studies with IT service providers.

3. Applicant prepares the Membership file comprising a letter of application, an authorisation request and all requisite documents (financial statements, clearing agreement, analysis of shareholders' equity, etc., see ).

4. LCH.Clearnet SA's Risk Management Meeting reviews the application within 1 month after reception of a complete and signed application file.

5. Applicant signs the Admission Agreement after approval.

6. Choice of technical architecture is finalised (CAPI clearing, MAPI clearing, CCW), telecoms lines are ordered and, if appropriate, hardware/software solutions are developed.

7. Applicant sets up connections to all interested parties (Euroclear France, LCH.Clearnet SA, back-office service provider, etc.) and conducts technical tests.

8. If required, the applicant's staff are trained to use CCW.

9. LCH.Clearnet SA membership becomes effective if all the legal and membership conditions have been completed.

Acceptance Criteria

There are no application fees to become a member.

LCH.Clearnet SA selects it's members on the basis of stringent regulatory and financial criteria in order to guarantee market security.