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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 3134 |
| Service Circular No: | OTC Bullion No 011 |
| Date: | 04 April 2012 |
| To: | All LCH.Clearnet EnClear Clearing Members
(Precious Metals Division) |
Margin Rate Changes for OTC Gold
LCH.Clearnet Ltd has set the London SPAN parameters as marked in bold and italic on the attached document. This circular supersedes circular LCH.Clearnet / 3113; LCH Gold Bullion / 010 dated 06 March 2012.
Changes have been made to OTC Gold Bullion contract.
The margin review changes will take place with effect from close of business Tuesday 10 April 2012 and will be reflected in margin calls made on Wednesday 11 April 2012.
Details of the current London SPAN Parameters, for the OTC Gold Bullion contract, 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 +44 (0)20 7426 7520
Nicholas Lincoln
Director, Market Risk