| Originating department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2072 |
| Service Circular No: | LCH EnClear 145 |
| Date: | 27 September 2006 |
| To: | All LCH EnClear Clearing Members |
Margin Rate Changes for EnClear Contracts
LCH.Clearnet Ltd has revised the London SPAN parameters as marked in bold and italic on the attached document. This circular supersedes circular LCH.Clearnet/ 2070; LCH EnClear / 144 dated 19 September 2006.
Changes have been made to ICE, Endex, Freight and other OTC contracts. Freight changes will take place with effect from close of business Thursday 28th September 2006 and will be reflected in margin calls made on Friday 29th September 2006. All other changes will take place with effect from close of business Tuesday 3rd October 2006 and will be reflected in margin calls made on Wednesday 4th October 2006.
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.
Members seeking further information please contact:
| LCH.Clearnet Ltd | Risk Operations | 020 7426 7520 |
Andrew White
Director, Risk Policy