| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2234 |
| Service Circular No: | LME 373 |
| Date: | 19 December 2007 |
| To: | All LME Clearing Members |
Margin Rate Changes
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 Thursday 20 December 2007 and will be reflected in margin calls on Friday 21 December 2007.
This circular supersedes circular No: LCH.Clearnet Ltd Circular No 2215; LME/371 dated 16 November 2007.
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.
For further information please contact the following:
Risk Operations 020 7426 7520
Christopher Jones
Director, and Head of Risk Management