Margin Rate Changes for EnClear Contracts

 1. 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 / 2479; LCH EnClear / 256 dated June 17th 2009.

2. Two new contracts have been added to the EnClear service:

• OTC EUA Spot Contract (EUS)

• OTC CER Spot Contract (CES)

3. The changes will take place with effect from close of business Friday 03 July 2009 and will be reflected in margin calls made on Monday 06 July 2009.

4. 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.

5. For further information please contact the following:

    Risk Operations      020 7426 7520