LCH SA RepoClear

08.06.2020

Prerequisites

In order to register for the transaction settlement process cleared through LCH SA RepoClear, Clearstream Banking customers must fulfil the following prerequisites. They must:

  • have an existing and active CBF and/or CBL securities account, depending on the markets;
  • have the status of a Clearing Member Firm (CMF) or be appointed as a settlement agent by the CMF;
  • ensure that LCH SA RepoClear is notified that their transactions must be settled through Clearstream Banking;
  • ensure that Clearstream Banking has received and set-up a Power of Attorney (PoA), as detailed in the “How to subscribe” section below;
  • ensure that LCH SA RepoClear has received a PoA to settle transactions through Clearstream Banking;
  • ensure that LCH SA RepoClear has received the account configuration form and that the set-up is completed.

For further information about LCH SA RepoClear membership and documentation required please contact your respective account/relationship manager at LCH SA RepoClear.

How to subscribe to the service

Customers should notify LCH SA RepoClear that their transactions must be settled through Clearstream Banking and send a duly signed PoA to the relevant address of CBL or CBF as mentioned below.The PoA template and the trading venue and CCP overview can be accessed in the attachments section below if logged in as a Premium User.

Customers should complete the PoA on their letterhead using the available template, designating the customer as “The Company” and LCH SA RepoClear as “The Attorney”. The template for CBL customers is available in the attachments below (if logged in as a Premium User). CBF customers should use the standard PoA template available in the Account Opening Forms section.

The PoA should be signed by one or more authorised signatories, in accordance with the rules defined in the authorised signature lists provided to Clearstream Banking.

N.B.: When the PoA permits the attorney to send securities and cash instructions on behalf of the customer, the customer must include (an) account(s) valid for both securities and cash to allow the trading platform or central counterparty to avoid any rejection of the messages sent by the attorney for that purpose.

Address details for PoA

CBL customers should return the completed PoA to the following address:

Clearstream Banking S.A.
Account Administration
L-2967 Luxembourg
Luxembourg

CBF customers should return the completed PoA to the following address:

Clearstream Banking AG
Account Administration
Mergenthalerallee 61
D-65760 Eschborn
Germany