Business Streams

EquityClear fees effective from 1 October 2010

To view EquityClear fees pre October click here

The cost associated with using the EquityClear service will depend on the members monthly volumes. All cleared volumes across all the trade sources cleared through the EquityClear service are cumulative. The EquityClear tariff structure supports members existing business whilst incentivising growth.

The average daily volume (“ADV”) of the clearing member will be determined by the number of trades cleared throughout the month, then divided by the number of business days in the month. When the ADV has stepped through each band, the cost of clearing and an average unit cost per trade can be derived. Please see example below.

Members can reduce costs further by using the ‘family groupings’ discount facility that is available upon request.
The fee structure highlights LCH.Clearnet’s commitment to reduce fees and benefit its members. The tariff is structured to incentivise growth and reward those members that use the service.

Please use our user friendly calculator that will assist members with any modeling. Upon entering a member’s volumes the calculator will highlight the associated fee.

Should you have any questions regarding the fee structure please contact:

Ian Mackenzie, Commercial Services: Tel, +44 (0)20 7426 7265. ian.mackenzie@lchclearnet.com

From010,00120,00140,00150,00175,001150,001
Price10p7p5p4p1p0.5p0p

Example

3,300,000 trades / 21(Days in the Month) = 157,142 (Average Daily Volume)
10,000 trades at 10p  = £1,000
10,000 trades at 7p    = £700
20,000 trades at 5p    = £1,000
10,000 trades at 4p    = £400
25,000 trades at 1p    = £250
75,000 trades at 0.5p = £375
7,142   trades at 0p    = £0
Total £3,725 x 21       = £78,225

LCH.Clearnet Ltd  passes through at cost, all settlement related fees to its members.

For All Euroclear Settlement Related Fees

For MTF settlement related fees

Buying-in Fee

£125 per ISIN, per day, in addition to the cost of purchasing the securities.

Trade Adjustments

£30.00 per adjustment

EquityClear fees effective from 1 January 2011

Member Testing

Booking Test environment £1,600 plus VAT.

Per day or part day Testing cost £800 plus VAT.

Ancillary Services

Will be charged hourly at a rate of £120 plus VAT and be subject to a minimum charge of £240.00 plus VAT.

EquityClear Annual fees Effective from 1 January 2011

Membership fee£12,500 per annum (assessed and collected in advance annually. Pro rata per month or part month)
Charge per NCM£500 per annum (assessed and collected in advance annually. Pro rata per month or part month)
Change or new mnemonic £800 per mnemonic

Click here to view all associated EquityClear costs in PDF format.

Click here to view the EquityClear service description.

Glossary of terminology used above
ADV: refers to Members Average Daily Volume
CCP Service fee: refers to Central Counterparty services offered by EUI
EUI: refers to Euroclear UK & Ireland
LSE: refers to London Stock Exchange
NCM: refers to different legal entity relationship with GCM

Contacts

LCH.Clearnet Ltd

Ian Mackenzie - Customer Relationship Manager

Tel: + 44 (0)20 7426 7265
e-mail: ian.mackenzie@lchclearnet.com

Wayne Eagle - Executive Director, EquityClear

Tel: + 44 (0)20 7426 7038
e-mail: wayne.eagle@lchclearnet.com