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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2838 |
| Service Circular No: | LCH.Clearnet EnClear 334 |
| Date: | 20 April 2011 |
| 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 / 2821; LCH EnClear / 333 dated 30th March 2011.
Changes have been made to EnClear contracts following a margin review.
Changes have also been made due to the introduction of the following new contracts.
• $ per Tonne Tanker Voyage Route TD7 (DD7)The margin review changes will take place with effect from close of business Wednesday 27 April and will be reflected in margin calls made on Thursday 28 April.
The new contract will go live Tuesday 26 April and will be reflected in margin calls made on Wednesday 27 April.
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
Executive Director and Head of Risk Management