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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2736 |
| Service Circular No: | LCH.Clearnet EnClear 315 |
| Date: | 25 November 2010 |
| To: | All LCH.Clearnet 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 / 2717; LCH EnClear / 313 dated 10 November 2010.
Changes have been made due to the introduction of the following new contracts.
SST Turkish Import Scrap (SST)
SBC China Hot Rolled Ribbed Bar (SBC)
The changes will take place with effect from close of business Wednesday 01 December and will be reflected in margin calls made on Thursday 02 December.
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