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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 3463 |
| Service Circular No: | LCH.Clearnet EnClear 401 |
| Date: | 1 May 2014 |
| 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 / 3458; LCH EnClear /399 dated 9th April 2014.
Changes have been made to EnClear Contracts due to the introduction of new CPT Dry Timecharter Basket Route.
The margin changes will take place with effect from start of day Tuesday 6th May 2014.
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:
Operations and Client Servicing +44 (0)20 7426 7520
Nicholas Lincoln
Director, Market Risk