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Originating Department:Risk Management
Company Circular No:LCH.Clearnet Ltd Circular No 2275
Service Circular No:LME 379
Date:25 March 2008
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 Thursday 27 March 2008 and will be reflected in margin calls on Friday 28 March 2008.

  2. This circular supersedes circular No:  LCH.Clearnet Ltd Circular No 2267; LME/378 dated 29 Febuary 2008.

  3. Also included are the changes made due to the introduction of the Non-Ferrous Swap contracts.  These changes will be made effective from the close of business on Monday 31 March 2008 and will be reflected in margin calls on Tuesday 01 April 2008

  4. 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.

  5. For further information please contact the following:

    Risk Operations020 7426 7520

Christopher Jones 
Director, and Head of Risk Management

LME Margin Rate Spreadsheet