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.
   
   
2. LCH.Clearnet Ltd has set new OMS - II parameters for the following new underlying stocks:
   
   • Royal Dutch Shell A Share
   • Royal Dutch Shell B Share
   These new rates will be effective as of Friday 2 September 2005, and consequently reflected in the first intra-day margin run on that day.
   
   
3. For all other marked equities and indices the new rates will be effective as of Monday 5 September 2005, and consequently reflected in the first intra-day margin run on that day.
   
   
4. This circular supersedes LCH.Clearnet Ltd Circular No 1923: EquityClear/EDX 060 dated 09 August 2005.
   
   
5. 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.
   
   
6. Members seeking further information in relation to this circular should contact the following:
   

   LCH.Clearnet Ltd

   Risk Operations

   020 7426 7520

Christopher Jones
Head & Director, Risk Management

EDX Margin Rate Spreadsheet