LCH.Clearnet Limited EnClear – Fertilizer Contracts

Report date
Summary

Circular No.

LCH Circular No 3597

Service Circular No

EnClear Circular No 425

Date:

11th March 2015
To:

All EnClear Members
Body

LCH.Clearnet EnClear Clearing Members are advised that, subject to the successful completion of testing, LCH.Clearnet Limited ("LCH.C") will suspend clearing of its cash settled New Orleans fertilizer contracts (UNO, DNO and UAN) on the 24 March 2015. Further notifications about the delisting of these contracts will be provided in due course.

LCH.C will launch three new cash settled New Orleans fertilizer contracts, being UNM, DNM and UAM, on 25 March 2015. These new fertilizer contracts will have a reduced lot size of 25st, as outlined below:
 

LCH Commodity Code    Fertilizer Type Origin         Lot Size (1 Lot)
UNM    Urea    New Orleans     25st
DNM    Diammonium phosphate (DAP)   New Orleans     25st
UAM     Urea Ammonium Nitrate (UAN) New Orleans     25st


Any Clearing Members will Open Interest in the existing UNO, DNO and UAN fertilizer contracts will have their positions converted to the equivalent number of UNM, DNM and UAM positions by LCH.C on the 25th March 2015.

Relevant sections of the LCH.Clearnet Limited Rulebook will be updated to reflect the above.

Please contact David Barnes (david.barnes@lchclearnet.com) or Isabella Kurek-Smith (isabella.kurek-smith@lchclearnet.com) with any enquiries.