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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2774 |
| Service Circular No: | LCH.Clearnet EnClear 328 |
| Date: | 03 February 2011 |
| To: | All LCH.Clearnet EnClear Clearing Members |
Margin rate changes for EnClear Contracts
LCH.Clearnet Ltd has revised the London SPAN parameters as marked in bold and italic on the attached document. This circular supersedes circular LCH.Clearnet / 2765; LCH EnClear / 322 dated 21 January 2011.
Changes have been made due to the introduction of the following new contracts.
Rotterdam Coal Swap Option Quarter (A2Q)
Rotterdam Coal Swap Option Calendar (A2C)
Richards Bay Coal Swap Option Quarter (A4Q)
Richards Bay Coal Swap Option Calendar (A4C)
The changes will take place with effect from close of business Monday 7 February 2011 and will be reflected in margin calls made on Tuesday 8 February 2011.
Details of the current London SPAN Parameters, for all EnClear contracts, can be found on the LCH.Clearnet website (http://www.lchclearnet.com/data_downloads/ltd/span.asp).
For further information please contact the following:
Risk Operations 020 7426 7520
Christopher Jones
Director and Head of Risk Management