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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No: 2157
Service Circular No:ICE Futures 347
Date:19 June 2007
To:

All ICE Futures Clearing Members

Reduction to LCH.Clearnet Fees on ICE Futures

Following LCH.Clearnet Ltd announcement on 9 March 2007 about the reduction to clearing fees in respect of trades executed on ICE Futures we are pleased to advise you that the fee rates below will be reduced with effect from 1 July 2007.

Cash settlement fees will be reduced to the same rate as Registration fees in the table below. There will be no change to the NBP Natural Gas and UK Electricity fees and there will be no change to the Option Exercise fee for any of the products.

ECX CFI Emissions Delivery Fee will be reduced to zero until further notice.

As you will be aware, LCH.Clearnet has embarked on a programme of aggressive tariff reductions across all asset classes. In addition to the reductions announced in this Circular, we will introduce further and substantial tariff reductions in respect of trades executed on ICE Futures in the next few months.

ContractCurrentNew
Crude OilUS$0.12US$0.09
European Refined Oil ProductsUS$0.12US$0.09
US Refined Oil ProductsUS$0.12US$0.09
ECX CFI Emissions€2.00€1.50
CoalUS$3.00US$2.00

All Fees are per lot per side and apply to futures and options contracts


Yours sincerely


David Farrar
Senior Relationship Manager
Commercial Services