LCH.CLEARNET LIMITED (LCH)
APPLICATION FOR VARIATION AND RESTATEMENT OF LCH'S INTERIM ORDER
NOTICE OF COMMISSION ORDER
On February 12, 2013, the Commission issued an order under section 144 of the Securities Act (Ontario) (Act) varying and restating the interim order exempting LCH under section 147 of the Act from the requirement in subsection 21.2(0.1) of the Act to be recognized as a clearing agency (Order). The Order extends LCH’s interim exemption subject to an additional reporting requirement related to the prompt notification to the Commission of a default of an Ontario-resident client in the clearing services offered by LCH and updates LCH’s representations.
LCH continues to be exempted from the recognition requirement until the earlier of (i) June 1, 2013, and (ii) the effective date of the Subsequent Order (as defined in the Order).
A copy of the Order is published in Chapter 2 of this Bulletin.