Custody Services
| Credit Variation Margin | Not allowed to cover a Debit Cash position
No charge or payment to cover IM or debit CVM |
| Performance Bonds | Charge 0.10% to cover IM and CVM after offset
Charge LDR plus 2.1% to cover CHF, JPY, DKK, NOK & SEK Debit Cash positions Charge LDR plus 1.1% to cover GBP, USD & EUR Debit Cash positions |
| Securities | Charge 0.10% to cover IM and CVM after offset
Charge LDR plus 2.1% to cover CHF, JPY, DKK, NOK & SEK Debit Cash positions Charge LDR plus 1.1% to cover GBP, USD & EUR Debit Cash positions |
| Cash | Pay London Deposit Rate to cover on any cash balances held overnight |
| Foreign Cash | Pay LDR of cover currency on cash balances held overnight
Charge LDR plus 2% to cover CHF, JPY, DKK, NOK & SEK Debit Cash positions Charge LDR plus 1% to cover GBP, USD and EUR Debit Cash positions |
| Forward Cash | Charge LDR plus 2% to cover CHF, JPY, DKK, NOK & SEK Debit Cash positions
Charge LDR plus 1% to cover GBP, USD and EUR Debit Cash positions |
Notes:
IM - Initial Margin.
CVM - Contingent Variation Margin.
London Deposit Rate is calculated daily for each currency by 10:00 hours. It is derived from bid rates for overnight funds quoted by selected money market brokers and/or major banks. For next-day value currencies, LDR is calculated the day priot using tom/next rate.
Foreign Cash - cash in a currency other than that of the liability.
Forward Cash - cash which has been credited to an account for later value, e.g. an amount called via PPS for next-day value.
Prices of additional services to customers
Nil.