Business Streams
Periodic Fees
Effective from 30 March 2012
The rates indicated below are expressed in euro and are subject to VAT at the applicable rate.
Except when specified, the following fees are applicable for all markets cleared by LCH.Clearnet SA
I. Trading or Clearing member code change/creation
A one-off fee is charged for member code change/creation; the fee amounts vary according to the following cases:
- 1,000 for the code creation of a new (trading/clearing) member code (new legal entity)*
- 2,000 for the implementation of an additional (trading/clearing) member code (same legal entity and same market)
- 2,000 for a change of clearer
* A fee holiday is applied in 2012 for clients asking for code creation to be active on NYSE BondMatchTM and GalaxyTM platforms; such fee waiver will only apply to requests made before the end of June 2012.
II. Use of several Trading or Clearing member codes
A monthly fee of 2,000 is charged per additional trading or clearing code (same legal entity and same market).
Notes:
- A member code is considered as additional when it is related to the same legal entity and the same market of an already existing member code.
- Fees linked to trading member codes use will be charged to the receiving clearing member
III. Membership fees
A. Cash membership fee
LCH.Clearnet SA charges membership fees for clearing of Cash business. These membership fees are collected on a monthly basis (collected on the 10th open business day of the following month - no pro rata is applied).
| Fee Type | Monthly fee amount | |
Membership fee per Clearing Member Firm (CMF) code | Monthly volume superior to 500,000 | 15,000 |
| Monthly volume inferior to 500,000 * | 3,500 | |
Membership fee per cleared Trading Member Firm** (per TMF legal entity and per CMF/TMF link) | 500 | |
* Except for CMFs registering less than 80,000 postings per month, in this case, the monthly amount is 200
** For NYSE BondMatchTM and GalaxyTM platforms, this fee will be waived in 2012 for new trading member firms starting their activity before the end of June 2012.
B. Derivative membership fee
LCH.Clearnet SA charges monthly membership fees for clearing or derivative products. Waiting for further harmonisation, such fees are still different from a location to another. These membership fees are collected on a monthly basis (collected on 10th open business day of the following month - no pro rata is applied).
Amsterdam, Brussels and Lisbon clearing segments:
Waiting for further harmonisation, no membership fee is currectly charged on these clearing segments.
Paris clearing segment:
LCH.Clearnet SA charges monthly membership fees for clearing of interest-rate derivatives, and equity/index derivatives.
| Interest-rates | Commodities | Equity/Index | All derivatives | |
| Monthly fee amount | 1,250* | none | 1,250 | 2,100* |
* Temporary fee holiday until further notice, only the Equity/Index monthly membership fee is effectively charged.
