Delay for LCH Clearnet's move to intra-day margining

LCH Clearnet has delayed its planned move to intra-day margining through the Idris System. (See FO Week Vol 8 No 47)

Originally scheduled for the first quarter of 2004, with hopes of a January launch, the clearinghouse has broadened the target date to "the early part of this year".

While the delay may not prove significant, it will almost certainly fall outside the first quarter target. A spokesperson for...