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| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2592 |
| Date: | 12 March 2010 |
| To: | All LCH.Clearnet Clearing Members |
Acceptable Collateral Haircut Review
1. The LCH.Clearnet Ltd Risk Management department has undertaken a review of the haircuts applied to margin collateral.
2. Changes to the haircuts resulting from this review will be made effective from the close of business on Monday 22 March 2010.
3. This circular supersedes LCH.Clearnet Ltd Circular No 2393 dated 10 December 2008
4. Details of the LCH.Clearnet Ltd Acceptable Collateral list can be found on the LCH.Clearnet Ltd website (www.lchclearnet.com) by selecting ‘Risk Management’ and ‘LCH.Clearnet Limited’. Details can then be found under the ‘Collateral Management’ section.
5. Members seeking further information in relation to this Circular should contact one of the following:
| LCH.Clearnet Ltd | Treasury Operations | 020 7426 7505 |
| LCH.Clearnet Ltd | Risk Operations | 020 7426 7520 |
Christopher Jones
Director and Head of Risk Management