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| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2770 |
| Service Circular No: | LCH EnClear No 326 |
| Date: | 26 January 2011 |
| To: | All LCH.Clearnet EnClear Clearing Members |
Additional National Holiday – Changes to ECS
As you will be aware, 29 April 2011 has been declared a national holiday in the UK and as a result the ECS service will be closed.
In accordance with the contract specifications, the last trading and settlement days will be as follows:-
| Last Trade Day | Settlement | |
| Freight | 28 April | 28 April |
| Iron Ore | 28 April | 28 April |
| Containers | 28 April | 3 May |
| Fertilizer | 28 April | 3 May |
| Coal | 28 April | 3 May |
| Steel (SCC, SBC) | 28 April | 3 May |
| Steel (SCN, SCS) | 3 May | 3 May |
| Steel (SST) | 6 May | 6 May |
| Emissions | n/a | n/a |
Option exercise and assignment for April 2011 Freight contracts will now occur on the 28 April and initial margin and NLV calculations will be affected by the reduction in days, meaning Members may need to adjust their systems accordingly.
If you have any questions, please do not hesitate to contact Holly Shaw on +44 20 7426 7027 or [email protected].
Isabella Kurek-Smith
Director, Head of Energy and Freight Markets
Commercial Services