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| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2745 |
| Service Circular No: | LCH EnClear No 317 |
| Date: | 03 December 2010 |
| To: | All LCH.Clearnet EnClear Clearing Members |
LCH EnClear Spot and Forward Emissions Contracts - CO2 accounts of Holcim Romania illegally accessed
Holcim Romania recently published information stating that registry accounts within the Romanian Emissions Trading Registry have been accessed illegally, resulting in the unauthorised transfer of 1.6 million emissions certificates from Holcim accounts. Please refer the following links for statements from Holcim and the European Commission:
Press statement-30 November 2010
http://www.holcim.ro/holcimweb/gc/RO/uploads/Holcim_Romania_CO2_IDs.pdf
LCH.Clearnet would like to remind members of their obligations in respect of instruments that are permissible for delivery under the LCH EnClear OTC Regulations highlighting Section 6A.7.3.3 in order that appropriate action may be taken.
6A.7.3.3 Nature of the Instruments to be delivered
Instruments to be delivered shall meet the relevant eligibility criteria set out in the Schedule to the LCH EnClear OTC Regulations. Each ECM shall ensure that any Instruments it delivers in performing its obligations under an LCH EnClear OTC Contract within the OTC Emissions Service are free and clear of all and any encumbrances.
Further please take note of the following data listing those instruments that were subject to unauthorised transfer from the Romanian Emissions Trading Registry.
| Start Serial Number | End Serial Number |
| RO-1-1-2575030697-1-1 | RO-1-1-2575180696-1-1 |
| RO-1-1-2574730697-1-1 | RO-1-1-2574980696-1-1 |
| RO-1-1-2432609549-1-1 | RO-1-1-2432694705-1-1 |
| RO-1-1-2432694706-1-1 | RO-1-1-2432844705-1-1 |
| RO-1-1-2506628641-1-1 | RO-1-1-2506693483-1-1 |
| RO-1-1-2506623082-1-1 | RO-1-1-2506628640-1-1 |
| RO-1-1-2573501966-1-1 | RO-1-1-2573796406-1-1 |
If you have any questions relating to this circular, please do not hesitate to contact me on +44 20 7426 6323, [email protected].
Yours sincerely
Jason LaBrooy
Commercial Services