| Originating department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2262 |
| Service Circular No: | LCH EnClear 201 |
| Date: | 25 Febuary 2008 |
| 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/ 2257; LCH EnClear / 200 dated 21 February 2008.
Changes have been made to ICE, OTC Natural Gas and Freight contracts. ICE changes will take place with effect from close of business Tuesday 26 February 2008 and will be reflected in margin calls made on Wednesday 27 February 2008. Freight changes will take place with effect from close of business Friday 29 February 2008 and will be reflected in margin calls made on Monday 03 March 2008.
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