| Originating department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2159 |
| Service Circular No: | LCH EnClear 174 |
| Date: | 02 July 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/ 2158; LCH EnClear / 173 dated 27 June 2007.
Changes have been made to Freight contracts. These changes will take place with effect from close of business Thursday 5 July2007 and will be reflected in margin calls made on Friday 06 July 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 |
Christopher Jones
Director, and Head of Risk Management