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Originating department:Customer & Market Management
Company Circular NoLCH.Clearnet Ltd Circular No 2055
Service Circular NoICE Futures No 334
Date:12 July 2006
To:All ICE Futures Clearing Members

Introduction of Clearing for ICE Rotterdam Coal Futures and ICE Richards Bay Coal Futures Contracts

Introduction

Further to ICE Futures Circular 06/089 dated 7 July 2006 we provide below information about the clearing of the above contracts.

Launch Information

The ICE Rotterdam Coal Futures and ICE Richards Bay Coal Futures Contract will be launched on Monday, 17 July 2006.

TRS/CPS Contract File for ICE Futures

The ICE TRS/CPS system has been upgraded to include details of the new contracts. PC Gateway users are reminded that they will need to download a new Contracts File (CONTRACT.DAT) for the ICE Futures exchange before downloading any trade data for that day. If you have any questions with regard to this please contact the ICE Help Desk 020 7488 5100 (London).

Clearing Procedures

These contracts will be processed by the Clearing and Processing System (CPS) in the same way as existing ICE Futures contracts.

London SPAN Parameters

The contract will be margined using London SPAN. The Clearing House has notified clearing members of the London SPAN parameters separately. They are also available on LCH.Clearnet Ltd website under the ‘Data Downloads’ section.

PPS and Banking Procedures

Standard Clearing House PPS and banking procedures will apply to these contracts. If you have any queries regarding PPS arrangements please contact Siobhan White on +44 (0)20 7426 7044.

Fees

LCH.Clearnet Registration and Cash Settlement fees charged for both contracts will be US$ 3.00 per lot per side. As these are cash settled contracts VAT will not be charged. Fees will be included in the usual month end Fee invoices and collected through PPS in the normal way on the payment date.

The Clearing House Rulebook

Amendments and additions to the Clearing House Rulebook (General Regulations, Default Rules Settlement Finality Regulations and Procedures) for these contracts will be available on LCH.Clearnet website in due course, under the section ‘Rulebook’, under sub-heading 'Recent and Forthcoming Rulebook Changes'.

Further Information

If you have any questions or would like further information please contact one of the following:

GeneralDavid Farrar+44 (0)20 7426 7582
RiskStuart Bailey+44 (0)20 7426 7287
OperationalKevin Watts+44 (0)20 7426 7699

Yours sincerely

Richard Heyman
Director, Exchange & Commodity Derivatives