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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2588 |
| Service Circular No: | LCH EnClear 279 |
| Date: | 23 February 2010 |
| To: | All LCH EnClear Clearing Members |
MARGIN RATE CHANGES FOR ENCLEAR CONTRACTS
LCH.Clearnet Ltd has revised the London SPAN parameters as marked in bold and italic on the attached document. This circular supersedes circular LCH.Clearnet / 2575; LCH EnClear / 277 dated 28 January 2010.
Changes have been made to the Scanning ranges, Volatility ranges, Inter-month spread charges and Inter-commodity credits.
The changes will take place with effect from close of business Tuesday 2 March 2010 and will be reflected in margin calls made on Wednesday 3 March 2010.
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.
For further information please contact the following:
Risk Operations 020 7426 7520
Christopher Jones
Director, and Head of Risk Management