Our comprehensive library of essential information and important documents for EquityClear SA members.
On this page you can access pertinent information for each of the equities and exchanges and trading venues that clear through EquityClear SA.
In order to make the library more navigable, the information has been split up by execution venue, allowing Clearing Members to access all our resources for each trading platform in one centralised location.
To access resources on a given exchange click on the name of the trading venue to be taken directly to the content you wish to view:
To view a basic introduction to EquityClear and a broad overview of our service offering, please click here.
EquityClear SA: Real Time Confirmations
EquityClear SA provides members with the option to receive real time trade confirmations of transactions LCH has validated and registered for clearing. This document describes this service extension, the technical message specifications and the technical interface infrastructure.
LCH SA Rulebook
The LCH SA Rulebook presents the detailed regulations that govern the operation of EquityClear SA. You can access the Rulebook here
European Short Selling Regulation Overview
This brief presentation provides a high-level overview of the European Short Selling Regulation. Find it here
Connecting to LCH SA
Connecting the LCH SA is a streamlined process. Below, you can find an educational link for our connectivity requirements
Cash and Derivatives Clearing System Information
LCH SA provides its members with an international standard clearing system, benefiting from the following technical advantages :
- Single access to the LCH SA clearing services which allows subsequent margin offsets and cost reductions
- Open architecture offering greater opportunities for the automation of the back-office processes
- Modular architecture that allows ongoing adaptations
LCH SA's global solution offers market participants:
- Common access to all markets served
- Harmonisation of clearing principles
- Adopting international standards in order to respond to the demand formulated by the financial community (particularly from global clearers working on multiple markets)
- Harmonise systems on the financial markets
Advantages of the Cash and Derivatives Clearing System
- Open architecture providing dialog between the members' internal computer systems and the clearing houses
- Real-time operations, enabling market participants to better manage their positions and risks
- Detailed position keeping, allowing balancing between unit accounts in the position keeper's books and those managed by the clearing house
The Cash and Derivatives Clearing System can be used to perform the following clearing operations :
- Postings and give-ups
- Position keeping by account
- Management of an account base (opening, modification, closure)
- Actions on position (exercise, abandonment, assignments)
- Adjustments (corrections, transfers, offsets)
- Calculation of margins and premiums
- Calculation of initial margins (SPAN® and VaR Expected Shortfall method)
Management of Non-Guaranteed Securities
Non-guaranteed trades benefit from a reduced CCP service, which differs depending on the market. This spreadsheet summarises the differences and similarities from the point of view of clearing and settlement.
MMTP Protocol Overview and Business Application Messages
This document provides an overview of MMTP, Euronext's proprietary Market Message Transfer Protocol, which allows its customers to access and communicate to EquityClear’s central clearing services via a system-to-system message API.
Bourse de Luxembourg Service (BDL)
LCH SA operates as the central counterparty (CCP) for BDL. All clearing operational processes are described into the document Cash Markets Service Description available through the secure area.
The Bourse de Luxembourg securities list is available in Cash Data Referential