Launch of OTC Clearing service for EU allowances and CER contracts

LCH.Clearnet is pleased to announce that it will be re-launching its OTC Clearing service for Forward Emissions allowances (EUA’s) and launching a new OTC Clearing service for CER’s (Certified Emission Reductions). These contracts will be covered under the LCH EnClear OTC service, which provides a platform independent clearing service for OTC contracts.

The planned launch date will be January 2008.

The service will allow for EUA’s and CER’s, previously concluded by bilateral parties through OTC brokers or directly, to be registered with LCH.Clearnet for clearing. Positions that subsequently remain open at a contract’s expiry will be delivered to and from LCH.Clearnet’s account at a registry.

LCH.Clearnet would like to invite Members to a presentation on these new clearing services on Friday 14th December 2007 at 11.00am. The session will last around an hour.
Items on the agenda will include:

• Contract terms

• The Clearing platform (ECS)

• Delivery terms

• Pricing and Margining

• Fees

If you would like to attend this meeting please contact Andrea Akitoye on +44 207 426 7357 or email andrea.akitoye@lchclearnet.com

In the meantime, if you have any questions, please do not hesitate to contact me on +44 207 426 7460 or email Isabella.kurek-smith@lchclearnet.com

Isabella Kurek-Smith

Energy Markets