On May 22, LCH LTD issued notice re USD LIBOR SwapClear Contracts.
LCH LTD informed of cessation of the solution for USD LIBOR SwapClear Contracts.
Main Points
Further to Circular No 4235, LCH LTD confirmed that the solution for USD LIBOR SwapClear Contracts will no longer be available following the operational cut-off time.
It was submitted for registration subsequent to the completion of LCH’s Conversion processes in 2023, each a legacy swap that satisfied time limited eligibility criteria.
Effectiveness
The operational cut-off time takes place on Friday Jun. 27, 2025.