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Pritchard Stockbrokers Limited Default


The following information is provided for member firms and non-member firms to assist their queries in relation to the default of Pritchard Stockbrokers Limited ("Pritchard's") which was declared at 17:00 on Tuesday 20 March 2012. The Exchange will update this information from time to time.

All Stock Exchange Notices issued in relation to the default of Pritchard's are available from the downloads section at the bottom of this page.

Administrator information - Mazars LLP
Here is a link to Mazars LLP website which provides information in relation to the administration of Pritchard Stockbrokers Limited:

Default Procedures
The Exchange has confirmed that Pritchard’s unsettled on Exchange trades were only dealt in an agency capacity.  

The operation of the Exchange's default procedures for unsettled agency non-CCP on Exchange trades, in accordance with the provisions of the Companies Act 1989, removes the defaulting firm from the settlement process therefore allowing settlement of the unsettled trade to take place between the defaulter’s end customer and the counterparty member firm.  

The Exchange will provide details of the defaulter’s customer to the non-defaulting counterparty who shall write to that customer in a form prescribed by the Exchange requiring them to settle the contract.

Current Status
This page will be updated as the default process develops.

Rules
Download the rules of the London Stock Exchange.

Ceasing of settlement
The Exchange's guidance in relation to settlement.

Member Firms
The Exchange's guidance in relation to member firms.

Non - Members

The Exchange's guidance in relation to non-member firms and their custodians.

Contact details
Default Official - Denzil Jenkins +44 20 7797 4214 (STX 34214) defaultofficial@londonstockexchange.com

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