Margin Rate Changes for EnClear Contracts

1. LCH.Clearnet Ltd has revised the London SPAN parameters as marked in bold and italic on the document below.  This circular supersedes circular LCH.Clearnet / 3055; LCH EnClear /349 dated 21 December 2011.

2. The new wet freight contracts D19, DC6 and iron ore options TSO are now being cleared by LCH.Clearnet, and these have been added to the Margin Rate Circular.

3. The new contract changes for wet freight D19 and DC6 will take place with effect from close of business Monday 9 January and will be reflected in margin calls made on Tuesday 10 January. The new contract changes for iron ore options TSO will take place with effect from close of business Monday 16 January and will be reflected in margin calls made on Tuesday 17 January.

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