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| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2698 |
| Service Circular No: | LCH EnClear No 306 |
| Date: | 11 October 2010 |
| To: | All LCH.Clearnet EnClear Clearing Members |
Adoption of IOSDA forward curve for margining iron ore swaps in the LCH.Clearnet OTC Service: Freight Division
LCH.Clearnet is pleased to announce it will be using the IOSDA (Iron Ore & Steel Derivatives Association) forward curve to calculate variation margin for the iron ore swap contracts (TSI) as of Monday 18 October 2010.
For further information regarding IOSDA, please see www.iosda.com.
If you have any questions please do not hesitate to contact Holly Shaw on +44 20 7426 7027 or [email protected].
Yours sincerely
Isabella Kurek-Smith
Director, Head of Energy and Freight Markets
Commercial Services