1. Ahead of the August Bank holiday, LCH.Clearnet Ltd has, after consultation with the IPE, decided to increase the London SPAN parameters for the Gas Oil, Brent Crude Oil and ECX CFI Futures contracts as highlighted in the attached document.
   
   
2. These changes will take place with effect from close of business Thursday 25 August 2005 and will be reflected in margin calls made on Friday 26 August 2005. This circular supersedes LCH.Clearnet Ltd Circular No 1915; LCH IPE/310 dated 20th July 2005.
   
   
   • The scanning range for Brent Crude Oil will be raised to $5,720 per lot from $4,080 per lot.
   • The scanning range for Gas Oil will be raised to $5,950 per lot from $4,250 per lot.
   • The scanning range for ECX CFI Futures will be raised to €2,800 per lot from €2,000 per lot.
     
3. These scanning ranges will revert back to those shown on LCH.Clearnet Ltd Circular No/ 1915; LCH IPE/ 310 dated 20 July 2005 at the close of business Tuesday 30 August 2005 and will be reflected in margin calls made on Wednesday 31 August 2005.
   
   
4. Details of the current London SPAN Parameters, for all IPE contracts, can be found on the LCH.Clearnet Ltd website (www.lchclearnet.com) by selecting ‘Limited’. Details can be found under the ‘Risk & Margining’ section. Alternatively using TRS select menu option #3 and input $MARGIN.
   
   
5. For further information please contact the following:
   
   

   Risk Operations

   020 7426 7520

Christopher Jones
Director and Head of Risk Management