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| Originating Department: | Risk Management |
| Company Circular No: | LCH.Clearnet Ltd Circular No 3387 |
| Service Circular No: | OTC Bullion No 017 |
| Date: | 29 November 2013 |
| To: | All LCH.Clearnet EnClear Clearing Members
(Precious Metals Division) |
Margin Rate Change for Precious Metals
LCH.Clearnet Ltd has set the London SPAN parameters as marked in bold and italic on the spreadsheet below. This circular supersedes circular LCH.Clearnet / 3337; LCH Gold Bullion / 016 dated 14 August 2013.
Changes have been made to OTC Gold Bullion and Silver contracts.
The margin review changes will take place with effect from close of business Friday 6th December 2013 and will be reflected in margin calls made on Monday 9th December 2013.
Details of the current London SPAN Parameters, for the OTC Gold Bullion and Silver 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