| Originating department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2148 |
| Service Circular No: | LCH EnClear 169 |
| Date: | 23 May 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/ 2140; LCH EnClear / 168 dated 23 April 2007.
Changes have been made to ICE and EnClear Freight contracts. ICE changes will take place with effect from close of business Tuesday 5 June 2007 and will be reflected in margin calls made on Wednesday 6 June 2007. Freight changes will take place with effect from close of business on Thursday 31 May 2007 and will be reflected in margin calls made on Friday 1 June 2007.
Details of the current London SPAN Parameters, for all EnClear contracts, can be found on the LCH.Clearnet website (www.lchclearnet.com) under Risk Management > Ltd > Margin rate circulars.
For further information please contact the following:
| Risk Operations | 020 7426 7520 |
Andrew White
Director, Risk Policy