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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 2763
Service Circular No:LME Circular No 434
Date:18 January 2011
To:All LME Clearing Members

Additional National Holiday - changes to LME Synapse

Dear Members

As you will all be aware, 29 April 2011 has been declared a national holiday in the UK. In view of this, we will be implementing changes to LME Synapse.

To make April 29 a non-business and non delivery day within Synapse, the last business day of the month and the expiry day will be brought forward by one day from 29 April 2011, to 28 April 2011.

Option exercise and assignment for TAPOS and CAPS expiry day and NLV and IM calculations will be impacted. Members may need to adjust their records accordingly.

April 2011 TAPOS contracts submitted for clearing from Monday 24 January 2011 will be for the revised expiry date.

Margin calculations as at close of business on Monday 24 January will reflect the revised dates and values for contracts already submitted.

Please do not hesitate to contact us should you have any questions regarding this.
Martin West -  martin.west@lchclearnet.com   +(44) 207 426 7089
David Farrar -  david.farrar@lchclearnet.com  +(44) 207 426 7582

Yours sincerely,


Martin West
Manager, Relationship Management
Commercial Services