| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2296 |
| Service Circular No: | LME 382 |
| Date: | 29 April 2008 |
| 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. The Scanning Range changes will be made effective from the close of business on Thursday 01 May 2008 and will be reflected in margin calls on Friday 02 May 2008. The Multi Tier Spreads and Inter Commodity Offsets will be made effective from the close of business on Tuesday 06 May 2008 and will be reflected in margin calls on Wednesday 07 May 2008
This circular supersedes circular No: LCH.Clearnet Ltd Circular No 2275; LME/379 dated 25 March 2008.
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