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CLEARING
Clearing of trades executed is the process of confirming the counter-parties to the trades.
This clearing function is performed by LFX who is responsible to notify the Trading Agents on the clearing and settlement status of the trades.
LFX will monitor and perform the trade comparison and confirmation for trade settlement.
SETTLEMENT
Citibank Worldwide Securities Services and Deutsche Bank (Malaysia) Berhad have been appointed by LFX to undertake the securities and cash settlement functions.
Securities settlement is on a "book entry" basis where there will be no physical movement of scripts.
Failed settlements, either cash or securities, will go through negotiations either to delay or cancel the trade.
Trades are subject to a T+3 rolling settlement cycle.
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