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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 2770
Service Circular No:LCH EnClear No 326
Date:26 January 2011
To:All LCH.Clearnet EnClear Clearing Members

Additional National Holiday Changes to ECS

 As you will be aware, 29 April 2011 has been declared a national holiday in the UK and as a result the ECS service will be closed.

In accordance with the contract specifications, the last trading and settlement days will be as follows:-

 Last Trade DaySettlement
Freight28 April 28 April
Iron Ore28 April28 April
Containers 28 April 3 May
Fertilizer 28 April3 May
Coal 28 April3 May
Steel (SCC, SBC)28 April 3 May
Steel (SCN, SCS) 3 May3 May
Steel (SST)6 May6 May
Emissions  n/an/a

Option exercise and assignment for April 2011 Freight contracts will now occur on the 28 April and initial margin and NLV calculations will be affected by the reduction in days, meaning Members may need to adjust their systems accordingly.

If you have any questions, please do not hesitate to contact Holly Shaw on +44 20 7426 7027 or holly.shaw@lchclearnet.com.

Isabella Kurek-Smith
Director, Head of Energy and Freight Markets
Commercial Services