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Originating Department:Risk Management
Company Circular No:LCH.Clearnet Ltd Circular No 2155
Service Circular No:LME 366
Date:18 June 2007
To:All LME Clearing Members

Margin Rate Changes

  1. LCH.Clearnet Ltd has, after consultation with LME, decided to change the London SPAN margin parameters for the contracts marked in bold and italic on the attached document. These changes will be made effective from the close of business on Wednesday 20 June 2007 and will be reflected in margin calls on Thursday 21 June 2007.

  2. This circular supersedes circular No: LCH.Clearnet Ltd Circular No 2141; LME/364 dated 24 June  2007.

  3. Also included are the London SPAN margin parameters for the following new contracts.  These changes will be made effective from the close of business on Monday 25th June 2007 and will be reflected in margin calls on Tuesday 26th June 2007.

  4. · Polyethylene North America
    · Polyethylene Europe
    · Polyethylene Asia
    · Polypropylene North America
    · Polypropylene Europe
    · Polypropylene Asia

  5. Detailed margin rates are available on the LME Matching and Clearing System by selecting the SPAN Initial Margin Rates report in Report Printing and Browsing and also on the LCH.Clearnet website (www.lchclearnet.com) under Risk Management > Ltd > Margin rate circulars > LME.

  6. For further information please contact the following:

    Risk Operations020 7426 7520

Christopher Jones 
Director, and Head of Risk Management

LME Margin Rate Spreadsheet