Bloomberg News

LCH.Clearnet Raises Deposits on Wheat and Corn After Price Gains

August 16, 2012

LCH Clearnet SA, the French arm of Europe’s biggest clearing house, raised the deposits it demands from clients to trade milling wheat and corn futures on NYSE Liffe in Paris after prices jumped.

The margin for milling wheat futures will climb to 1,300 euros ($1,595) per contract from 1,200 euros, LCH.Clearnet wrote in a statement on its website yesterday. Margin requirements for corn will rise to 1,000 euros from 900 euros, the clearinghouse said.

Milling wheat futures have climbed 33 percent in the French capital this year to 259.25 euros a ton, while corn futures have advanced 28 percent to 252.25 euros a ton.

The changes will come into effect with the margin call tomorrow morning for positions at today’s close, LCH.Clearnet wrote.

To contact the reporter on this story: Rudy Ruitenberg in Amsterdam at rruitenberg@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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