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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 3400 |
| Service Circular No: | LCH.Clearnet EnClear 394 |
| Date: | 30 December 2013 |
| 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 / 3395; LCH EnClear /393 dated 11th December 2013.
Changes have been made to EnClear Scanning Ranges and Intermonth Spread charges and Volatility shifts.
The margin review changes will take place with effect from close of business Thursday 2nd January and will be reflected in margin calls made on Friday 3rd January.
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:
Listed Derivatives +44 (0)20 7426 7520
Nicholas Lincoln
Director, Market Risk