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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2619 |
| Service Circular No: | LCH EnClear 286 |
| Date: | 10 May 2010 |
| To: | All LCH EnClear Clearing Members |
MARGIN RATE CHANGES FOR ENCLEAR CONTRACTS
1. 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 / 2617; LCH EnClear / 285 dated May 5 2010.
2. Changes have been made due to the introduction of the following new contracts:
• Timecharter Route S7 (East coast India – China)
• Dry Timecharter Basket Route HTC Options
3. The changes will take place with effect from close of business Monday 17 May 2010 and will be reflected in margin calls made on Tuesday 18 May 2010.
4. 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.
5. For further information please contact the following:
Risk Operations 020 7426 7520
Christopher Jones
Director, and Head of Risk Management