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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 2951
Service Circular No:LCH EnClear No 345
Date:24 August 2011
To:All LCH.Clearnet EnClear Members

Extension of the listed series for the C3E contract in LCH.Clearnet’s FFA Clearing Service 

LCH.Clearnet is pleased to announce that in response to market demand, we are extending the series of our C3E (Tubarao – Qingdao) contract.

Members are advised that as of today, Wednesday 24 August 2011, the contract series for the C3E contract will be extended to include Calendars 2013 and 2014.

Full contract specifications are available on our website www.lchclearnet.com under the FFA section.

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


Cash settled freight forward contract on the following Dry Voyage Route:

C3E (Tubarao – Qingdao)

Lot size1,000 mt
CurrencyUS Dollars
PricingUS $/mt, $0.01
Minimum tickUS $ 0.0001 to account for final settlement
Fixed priceThe traded price or the previous day’s settlement price as supplied end of day by the Baltic Exchange
Floating price

In respect of daily settlement, the floating price will be the end of day price as supplied by the Baltic Exchange.

In respect of final settlement, the floating price will be the mean of the daily Baltic Exchange spot price assessments for every trading day in the expiry month.

Last trading day

At 18:00 hours UK time on last business day of each month within the contract series.

Exception – December contracts will expire on the 24th December, or previous business day, where the 24th December is a non working day.

Contract seriesFront 3 months, 4 whole quarters, 3 whole calendar years
Final paymentThe first business day following the expiry day
Business daysUK business days