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International Order Book (IOB) Clearing


The IOB Clearing (Phase 1), Outline Service and Technical Description provides an overview of the CCP service in operation for the electronic executions of the most liquid IOB securities.  A manual buyer protection election service is operated by  LCH.Clearnet for IOB corporate actions.  To activate an election in a specific corporate action (currently at no cost) requires the submission of a Buyer Election Notice to LCH.Clearnet.  This can be found as Appendix 2D.F of Section 2D at the following link: http://www.lchclearnet.com/rules_and_regulations/ltd/default.asp

Access
All member firms that wish to trade electronically on the IOB are required to complete an IOB Static Data Form and submit it to the London Stock Exchange.  Completed forms should be submitted to: clientimplementation@londonstockexchange.com.  For assistance, please contact the Client Implementation Team on +44 (0)20 7797 3232.

You may require assistance from your settlement provider and/or GCM to complete the relevant sections of the Static Data Form:

  • Individual Clearing Members (ICMs) and General Clearing Members (GCMs) are required to complete separate Static Data Forms for principal and agency business.
  • Non Clearing Members (NCMs) are required to complete the Static Data Form and have it countersigned by their GCM.
  • Direct Market Access (DMA) clients are not required to submit a Static Data Form, but should confirm with the respective member firm that they will support this service.

All IOB trading participants are requited to have a direct or indirect relationship with LCH.Clearnet Ltd.  The LCH.Clearnet Membership Team can be contacted on +44 (0)20 7426 7063.

A Euroclear RG448 Power of Attorney form needs to be completed and returned to Euroclear Bank, by the member firm or its settlement provider for each participant account within Euroclear Bank. Forms must be returned to Euroclear Bank by the member firm or its settlement provider before access to IOB is granted. Please contact Nicolas Landman at Euroclear Bank on +32 (0)2326 2757 for assistance.

Contact us
contact us
For queries relating to specific trades, please contact Market Supervision on +44 (0)20 7797 3666 (option 2)
 
Specific issuer related queries, or to find out more about admitting securities to the IOB - Darko Hajdukovic on +44 (0)20 7797 3306 or email
 
For general enquiries about the IOB trading service please click here.
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