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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2625 |
| Service Circular No: | LCH EnClear 287 |
| Date: | 21 May 2010 |
| To: | All LCH EnClear Clearing Members |
MARGIN RATE CHANGES FOR ENCLEAR CONTRACTS
1. LCH.Clearnet Ltd has revised the London SPAN parameters as marked in bold and italic on the attached document. This circular supersedes circular LCH.Clearnet / 2619; LCH EnClear / 286 dated May 10 2010.
2. Changes have been made to the Scanning ranges, Volatility ranges, Inter-month spread charges and Inter-commodity credits.
3. The changes will take place with effect from close of business Wednesday 26 May 2010 and will be reflected in margin calls made on Thursday 27 May 2010.
4. Details of the current London SPAN Parameters, for all EnClear contracts, can be found on the LCH.Clearnet website (www.lchclearnet.com) under Risk Management > Ltd > Margin rate circulars.
5. For further information please contact the following:
Risk Operations 020 7426 7520
Christopher Jones
Director, and Head of Risk Management