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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2683 |
| Service Circular No: | LCH.Clearnet EnClear 303 |
| Date: | 15 September 2010 |
| To: | All LCH.Clearnet 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 / 2680; LCH EnClear / 302 dated 07 September 2010.
2. Changes have been made due to the introduction of a new contract.
• DAP Nola Fertilizer Swap (DNO)
3. The changes will take place with effect from close of business Monday 20 September 2010 and will be reflected in margin calls made on Tuesday 21 September 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