CDSClear

Effective from 12 September 2012

For further information on fees, please send your request to lchclearnetsa_BILLINGINFO@lchclearnet.com.

I. Self-Clearing Fees

(Effective from 12 September 2012)

Standard Tariff:

An annual membership and clearing fee of EUR 1,000,000 is charged by the Clearing House to cover all self-clearing activity for a clearing member or affiliates.

Alternative Tariff:

A registration fee of EUR 3.50 per EUR 1 million gross notional cleared, with a reduced minimum annual membership and clearing fee of EUR 150,000.

A maximum annual fee of EUR 1,000,000 after which all further trades cleared in the calendar year are subject to a fee holiday.

Billing Information:

Fees are auto-debited from Clearing Members’ accounts & reflected in the AC0101E report available to Clearing Members. 

Fees are collected on the 10^th business day of the month

The fees indicated above are subject to VAT at the applicable rate.

A pro-rata will be applied for Clearing Members starting or resigning their activity during the year.

Standard Tariff     

One twelfth of this fee will be charged each month.

Alternative Tariff     

A minimum of one twelfth of EUR 150,000 is charged each month unless the maximum annual fee cap has already been reached.

II. Fees related to delayed trade registration in the event of Restructuring    

Where a Clearing Member is responsible for registering any Restructuring Cleared Transaction in the Trade Information Warehouse and fails to effect such registration by the specified deadline, such Clearing Member shall be deemed to have authorised LCH.Clearnet SA to make such registration on its behalf and will be required to make payment of a fee of EUR 5,000 per Cleared Transaction

This fee will not apply where a Clearing Member has authorised LCH.Clearnet SA to make the relevant registration on its behalf prior to LCH.Clearnet SA having registered its side of the relevant Restructuring Cleared Transaction  

Please refer to section 5.1 of the CDS Clearing Supplement for full details

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