MARGIN RATE CHANGES FOR ENCLEAR CONTRACTS

Report date
Summary

Originating department:

Risk Management

Circular No.

LCH Circular No 3617

Service Circular No.

EnClear Circular No 429

To:

All LCH EnClear Clearing Members
Body

MARGIN RATE CHANGES FOR ENCLEAR CONTRACTS

  1. LCH Ltd has revised the London SPAN parameters as marked in bold and italic on the attached document.  This circular supersedes circular LCH / 3592; LCH EnClear /424 dated 25th February 2015.
  2. Changes have been made to EnClear Scanning ranges, Intermonth Spread Charges and Inter-Commodity Credits to accommodate the launch of the new fertilizer contracts; DNM, UAM and UNM.
  3. The margin review changes will take place with effect from close of business Wednesday 13th May 2015 and will be reflected in margin calls made on Thursday 14th May 2015.
  4. Enclear Margin Rate Spreadsheet
  5. Details of the current London SPAN Parameters, for all EnClear contracts, can be found on the LCH website (www.lch.com) under Risk Management > Ltd > Margin rate circulars.
  6. For further information please contact the following:
  7. Operations and Client Servicing +44 (0)20 7426 7689


Nicholas Lincoln
Director, Market Risk