1. LCH.Clearnet Ltd has revised the London SPAN parameters as marked in bold and italic on the attached document. These changes will take place with effect from close of business Thursday 06th April 2006 and will be reflected in margin calls made on Friday 07th April 2006. This circular supersedes circular LCH.Clearnet/ 2003; LCH EnClear / 124 dated 22 March 06.
   
   
2. Changes have been made to existing EnClear contracts.
   
   
3. Details of the current London SPAN Parameters, for all 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 of margin rates are available on TRS under option 3 by inputting $Margin.
   
   
4. Margin rates for these contracts will be effective from Friday 3 March 2006 and will be reflected in margin calls made on Monday 6 March 2006.
   
   
5. For further information please contact the following:
6. 
   
   

   Risk Operations

   020 7426 7520

Andrew White
Director, Risk Policy

EnClear Margin Rate Spreadsheet