Current Status

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The Exchange is currently in Phase 2 of its default process. Data collection and data verification between the numerous parties concerned is complex and highlights a number of inconsistencies.

As soon as reconciliations are complete on a counterparty by counterparty basis the Exchange will issue clarification and / or confirmation emails to both the counterparties in question and to the Defaulter.

Phase 1 - Declaration

Declare DefaultFix Hammer PricesStop SettlementRequest Data

Phase 2 - Data Collection and Reconciliation of on-Exchange market contracts

LSE trade report data collectionEUI data collectionEuroclear Bank data collectionDTCC data collectionDefaulter's data collectionMember firm counterparties data collectionNon member firm counterparties data collectionConduct reconciliationIssue clarification emails and data extracts to counterparties & defaulterIssue confirmation emails and data extracts to counterparties & defaulter

Phase 3 - Issue of Net amount certificates ("NACs")

LSE to issue NACs to member firms and non member firm counterparties.