EquityClear service to include all SIX Swiss Exchange Equities

Dear Member,

Further to the Circular 2450 issued on 9 April 2009, whereby LCH.Clearnet notified its members of the repatriation of SWX Europe to Switzerland and that all eligible securities will be executed on the SIX Swiss Exchange.

LCH.Clearnet would like to advise its clearing members that from 28 September 2009, it will be extending its EquityClear service to include all equity securities traded on the SIX Swiss Exchange.

All current infrastructures and processes will continue to be utilised as now, with members experiencing minimal impact.  However, members that wish to use the EquityClear service to clear this business should contact the Six Swiss Exchange to complete a new static data (CSSI) form.

Clearing Members will benefit from margin offsets and collateral efficiencies from centralised clearing.  Also members will benefit from reduced clearing cost with increased volumes through the member specific incremental tariff.

Members will have the choice to settle on a gross or net basis.

This service extension further highlights the ability of LCH.Clearnet to increase its market coverage and reduce costs whilst minimising operational change to its members.

Members requiring further information should contact Ian Mackenzie on Tel: 020 7426 7265 ian.mackenzie@lchclearnet.com

Yours sincerely

Wayne Eagle, Director, LCH.Clearnet EquityClear®