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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 2833
Service Circular No: EquityClear Circular No 179
Date:13 April 2011
To:All EDX Clearing Members

Integration of EDX London Limited into Turquoise Global Holdings Limited

LCH.Clearnet Ltd (LCH.Clearnet) is pleased to confirm that there will be minimal impact on Clearing Members as a result of the LSE Group’s intention to combine the business and assets of EDX London Limited (“EDX”) and integrate the derivatives businesses into Turquoise Global Holdings Limited (“TGHL”). TGHL will be operated as a Multilateral Trading Facility and LCH.Clearnet will continue to provide clearing and settlement services to TGHL under the same clearing model currently used by EDX. Members are not required to take any action due to this integration.

LCH.Clearnet’s Rules and Regulations will be amended to reflect the reference changes from EDX to TGHL and shall become effective on the launch date 1 May 2011.  Further notice will be circulated in advance of the launch date to notify members of these changes.

In line with the changes being made to LCH.Clearnet’s Rules and Regulations, notification letters will also be sent out to GCMs and NCMs at the end of this week in respect of the NCM-GCM Agreements. There will be no requirement for clearing members to sign any documentation to reflect these changes.

LCH.Clearnet Fee invoices will be amended to reference TGHL following the change,   the system exchange code will remain ED2 on LCH.Clearnet Banking Reports.   LCH.Clearnet Banking and SPAN reports and Fee Invoices will continue to be available via the LCH.Clearnet Member Reporting Website.

If you have any questions please contact Karen Swift tel: +44 207 426 7562
Email: karen.swift@lchclearnet.com