Risk Management: Risk Management 24/24: Changes to the Collateral List (Appendix 14 to the Clearing Rules)

The Collateral List has been updated to include rules relating to collateral
substitution and posting of excess collateral for the period of 15 calendar
days prior to the last trading day of the calendar year. Within this period, 

 -- Substitution of collateral with a value higher than SEK 200 000 000, or
   equivalent in another currency, is subject to the Clearing House's
   approval,

 -- The Clearing House may not accept cash collateral in excess of the relevant
   Margin Requirement if posted after 10am CET, and

 -- In case the Clearing House suffers additional costs as a result of handling
   any excess collateral, the Clearing House may impose a fee
   (retrospectively) on the Account Holder in the amount corresponding to such
   additional cost.


For further information regarding this exchange notice please contact Clearing
Risk Management, telephone [phone], or [e-mail].