Introduction of Clearing For ICE Futures ECX Carbon Financial Instrument CER Futures Contract

Introduction

Further to ICE Futures Circular 08/019 R07 and 08/021 both dated 26 February 2008 we provide below information about the clearing of the above contract.

Launch Information

The ICE Futures ECX Carbon Financial Instrument CER Futures Contract will be launched on Friday, 14 March 2008.

TRS/CPS Contract File for ICE Futures

The ICE TRS/CPS system will be upgraded to include details of the new contract. 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

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

London SPAN Parameters

LCH.Clearnet will publish margin rates for the new contract in a separate circular. Details will also be found under the ‘Risk Management’/’Ltd’ section of the LCH.Clearnet website. ( http://www.lchclearnet.com)

PPS and Banking Procedures

Standard Clearing House PPS and banking procedures will apply to this contract. If you have any queries regarding PPS arrangements please contact Siobhan White on +44 (0)20 7426 7044 or Siobhan.white@lchclearnet.com .

Fees

LCH.Clearnet Registration fee charged will be €1.50 per lot per side. The delivery fee will be nil. As this is a delivered contract VAT will 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.

LCH.Clearnet Ltd Rulebook

Amendments and additions to the LCH.Clearnet Ltd Rulebook  (General Regulations, Default Rules Settlement Finality Regulations and Procedures) for this contract will be available on LCH.Clearnet Ltd website in due course, under the section ‘Rules & Regulations’/’Ltd’/’Recent and Forthcoming Changes’. http://www.lchclearnet.com

Further Information

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

General: David Farrar  +44 (0)20 7426 7582
Risk: Matthew Wade  +44 (0)20 7426 7659
Operational: Kevin Watts  +44 (0)20 7426 7699

Yours sincerely

David Farrar
Senior Exchange Relationship Manager
Commercial Services