| Originating department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2140 |
| Service Circular No: | LCH EnClear 168 |
| Date: | 23 April 2007 |
| 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/ 2134; LCH EnClear / 166 dated 29 March 2007.
Changes have been made to ICE Henry Hub and EnClear Freight contracts. ICE Henry Hub changes will take place with effect from close of business Wednesday 25 April 2007 and will be reflected in margin calls made on Thursday 26 April 2007. Freight changes will take place with effect from close of business on Monday 30 April 2007 and will be reflected in margin calls made on Tuesday 01 May 2007.
Additionally we have introduced Tiered Intermonth Spread charges on a further three ICE Contracts
PJM - Off Peak
NEPool – Peak
NEPool – Off Peak
Details of the current London SPAN Parameters, for all contracts, can be found on the LCH.Clearnet website (www.lchclearnet.com) under Risk Management > Ltd > Margin rate circulars.
Members seeking further information please contact:
Risk Operations 020 7426 7520
Christopher Jones
Director and Head of Risk Management