Member Firms

The Exchange will contact every member firm asking it to complete and return a spreadsheet setting out the full details of all unsettled non-central counterparty ("CCP") on-Exchange transactions.

It is important for member firms to make the Exchange aware of these transactions. The law provides that the Exchange’s Default Rules take precedence over the insolvency rules applied by Madoff Securities provisional liquidators. Failure to notify the Exchange of relevant trades may result in a calculation of members firms’ net positions with Madoff Securities which is less favourable than it might otherwise be.

Member Firm Counterparty details - instructions

Member firms that believe that they are a counterparty to any unsettled, non-CCP, on Exchange transactions where Madoff Securities is a counterparty, should complete the attached blank excel spreadsheet (see Downloads) and return this to defaultofficial@londonstockexchange.com. Each member firm's Member ID (BIC Code) should be included against each trade and also in the name of the spreadsheet returned to the Exchange.

Notifications should be made to the Default Official at: defaultofficial@londonstockexchange.com
Please ensure that all emails have the word "Madoff Securities" in the subject field.