1. LCH.Clearnet Ltd has, after consultation with EDX London Limited (EDX), revised the margin parameters as marked in bold and italic on the attached document. The new rates will be effective as of Tuesday 01 February 2005, and consequently reflected in the first intra-day margin run on that day.
   
   
2. LCH.Clearnet Ltd has set new OMS - II parameters, as highlighted in bold and italic in the attached document due to the introduction of Fast Search & Transfer (FAST).
   
   
3. This circular supersedes LCH.Clearnet Ltd Circular No 1843: EquityClear/EDX 045 dated 30 December 2004.
   
   
4. Details of the current OMS - II Parameters, for all EDX contracts, can be found on the LCH.Clearnet Ltd website (www.lchclearnet.com) by selecting ‘Limited’. Details can then be found under the ‘Risk & Margining’ section. Alternatively details can also be found using the BOPC system.
   
   
5. Members seeking further information in relation to this circular should contact the following:
   

   LCH.Clearnet Ltd

   Risk Operations

   020 7426 7520

Christopher Jones
Director and Head of Risk Management