The following information is supplemented by the Notes sections.
Core Clearing Fees
The Bronze, Silver, Gold and Platinum fee plans described below apply to the clearing of core interest rate contracts and do not include inflation swaps or NDIRS (unless stated otherwise
| Member Fee Plan | Bronze | Silver | Gold | Platinum |
|---|---|---|---|---|
| Fixed Fee | ||||
| Fixed Fee per annum | £500,000 | £1,500,000 | £2,400,000 | £3,250,000 |
| Booking Fee | ||||
| Booking fee per contract | £75 | n/a | n/a | n/a |
| Minimum number of contracts | n/a | n/a | 32,000 | 35,000 |
| Maximum number of contracts | 20,000 | 20,000 | unlimited | unlimited |
| Booking fee for additional contracts exceeding the maximum | £75 | £75 | n/a | n/a |
| Fee Plan Caps | ||||
| Fee amount if maximum number of contracts is not exceeded | £1,500,000 | £1,500,000 | n/a | n/a |
| Fee cap if maximum number of contracts is exceeded | £2,400,000 | £2,400,000 | n/a | n/a |
| Maintenance Fee | ||||
| Maintenance fee per month on existing contracts | £6 | n/a | n/a | n/a |
| Non-Deliverable Interest Rate Swaps and Inflation Swaps | ||||
| Pricing plans | charged separately | charged separately | charged separately | included |
Non-Deliverable Interest Rate Swap (NDIRS) Fees
| Non-Deliverable Interest Rate Swaps (NDIRS) | Plan A | Plan B |
|---|---|---|
| Fixed Fee per annum | £260,000 | n/a |
| Booking fee per contract | n/a | £75 |
| Maintenance fee per month on open contracts | n/a | £6 |
Inflation Swap Fees
| Inflation Swaps | Pricing Plan |
|---|---|
| Fixed Fee per annum | £30,000 |
| Maximum number of contracts in one calendar year | 200 |
| Booking fee for additional contracts exceeding maximum | £120 |
| Maintenance fee per month on existing contracts | £12 |
| Fee cap in a calendar year | £420,000 |
Onboarding Fees
There is a one-off on boarding fee of £50,000 for each new SwapClear Clearing Member or SwapClear Dealer within the same Corporate Group as an existing member
Compression Fees
Per contract fee for each contract included in a LCH or ACSP compression run.
| Scheduled Compression | LCH Compression | ACSP Compression |
|---|---|---|
| Fee per contract | £10 | £8 |
| Compression Fee Cap | £2,000,000 | |
Portfolio Transfer Fees
A fee is payable by a SwapClear Clearing Member which receives a Portfolio Transfer. All fees relate to Portfolio Transfers in any calendar year.
| Portfolio Transfers per Member Group | Pricing Plan |
|---|---|
| Fee per contract if number of transferred contracts is less than 500 contracts in a calendar year | £0 |
| Fee per contract if number of transferred contracts is greater than 500 contracts in a calendar year | £12.50 |
| Portfolio Transfer Fee Cap per Member Group in any calendar year | £300,000 |
IBOR Fallback Fees
Unless notified otherwise by member circular, LCH will apply a monthly Fallback Fee for outstanding IBOR contracts which have a maturity date after the currency IBOR cessation date. Fallback fees will be applied for 3 months prior to the announced LCH conversion date, for outstanding positions as of the last business day of that month.
| Fee per outstanding contract | ||
|---|---|---|
| 3 months prior to LCH conversion date | 2 months prior to LCH conversion date | 1 month prior to LCH conversion date |
| £5 | £5 | £5 |
IBOR Conversion Fees
Unless notified otherwise by member circular, LCH will apply a conversion fee to SwapClear Clearing Member House SwapClear Contracts which are converted by the LCH conversion tool.
An annual conversion cap will apply for all SwapClear Clearing Member House accounts.
| Fee per outstanding contract | |
|---|---|
| Conversion Fee | £30 |
| Conversion Fee Cap | £175,000 |
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