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| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No 3050 |
| Service Circular No: | LCH EnClear No 348 |
| Date: | 09 December 2011 |
| To: | All LCH.Clearnet EnClear Members |
LCH EnClear Forward Emissions Contracts - December 2011 deliveries
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:
2E.5.2.6 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 GCM 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.
If a buyer under an LCH EnClear OTC Contract receives allowances which are alleged to have been stolen, the conduct of any claim will be governed by the provisions of the General Regulations.
If you have any further questions, please do not hesitate to contact me on +44 207 426 7460 or [email protected]
Isabella Kurek-Smith
Director
Energy and Freight markets