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Company Circular No:LCH.Clearnet Ltd Circular No3114
Service Circular No: EquityClear Circular No 214
Date:05 March 2012
To:All EquityClear Clearing Members

Buy-in Procedures

Dear Member

We would like to bring to your attention a regulation of the European Parliament and of the Council of the European Union.
The regulation relates to buy-in procedures and is to be implemented from 1 November 2012.

Please use the following link to review Articles 15 & 16 http://register.consilium.europa.eu/pdf/en/11/pe00/pe00068.en11.pdf

As a result of the regulation we will be changing our processes and procedures;  we will provide further information relating to these changes in the coming weeks.

Yours sincerely

Wayne Eagle 
Executive Director, LCH.Clearnet EquityClear