Clearing House Advisory Notices
To | Clearing Member Firms; Back Office Managers; Delivery Personnel
From | Clearing House Department
Subject | Continuous Linked Settlement (CLS) Deadlines
Notice Date | 2006-06-14
Notice Number | 06-149
Effective Date | 2006-06-14
Effective immediately, for clearing member firms using CLS to facilitate their currency deliveries the following deadline to match CLS transactions will be in place. Monday, June 19, 2006 11:00 a.m. Firms enter their currency intentions into Clearing 21 Release 2 for all currencies except Canadian Dollar and begin entering their CLS transactions. 3:00 p.m. CME sends CLS messages. Tuesday, June 20, 2006 8:00 a.m. Firms make necessary changes to currency intentions and CLS transactions. 9:00 a.m. CME sends “new” CLS messages. 10:00 a.m. Firms enter their currency intentions in Clearing 21 Release 2 and CLS transactions for Canadian Dollar. 11:00 a.m. Any clearing member firm who has a CLS transaction that is not matched with the exception of Canadian Dollar will be required to begin preparing Orders-to-Pay for their currency intentions. 12 noon CME send Canadian Dollar CLS messages. 12:30 p.m. Any clearing member firm who has a Canadian Dollar CLS transaction that is not matched will be required to begin preparing Orders-to-Pay for their Canadian Dollar delivery. 1:00 p.m. ALL CLS transactions must be matched. Any clearing member who is not matched by 1:00 p.m. will no longer be able to deliver using the CLS method and will be required to submit banking instructions to CME by 2:00 p.m. to facilitate their deliveries. If there are any questions or concerns, please contact Deliveries at (312) 930-3172. For the printer friendly version...