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 / 2691; LCH EnClear / 304 dated 1 October 2010.

2. Changes have been made due to the introduction of the following new contracts.

•  SCN Northern European Hot Rolled  (SCN)

•  SCS Southern European Hot Rolled (SCS)

•  SCC China Hot Rolled Coil (SCC)

3. The changes will take place with effect from close of business Monday 18 October and will be reflected in margin calls made on Tuesday 19 October.

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