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 Tuesday 9th May 2006 and will be reflected in margin calls made on Wednesday 10th May 2006. This circular supersedes circular LCH.Clearnet/ 2011; LCH EnClear / 127 dated 4 April 06.
   
   
2. The scanning range for OTC Emissions Allowances has been changed.
   
   
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

Christopher Jones
Director and Head of Risk Management.

EnClear Margin Rate Spreadsheet