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 Friday 22 April 2005, Monday 25 April 2005 and Thursday 28 April 2005 , and consequently reflected in the first intra-day margin run on those day.
   
   
2. LCH.Clearnet Ltd has set new OMS - II parameters, as highlighted in bold and italic in the attached document due to due to the introduction of the following new contracts.
   
   • Teleca AB ser. B (TELCB) on Friday 22 April 2005.
   • NIBOR 6-MONTH FRA (6MNIB) on Monday 25 April 2005.
   • NIBOR 12-MONTH FRA (12MNIB) on Monday 25 April 2005.
   • Biotage A (BIOT) on Thursday 28 April 2005.
   • RNB Retails and Brands AB (RNBS) on Thursday 28 April 2005.
     
3. This circular supersedes LCH.Clearnet Ltd Circular No 1877: EquityClear/EDX 051 dated 31 March 2005.
   
   
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

Andrew White
Director, Risk Policy

EDX Margin Rate Spreadsheet