Visit our news section. As a clearing house, we stand in the middle of capital markets, acting as a buyer to every seller and a seller to every buyer. SwapClear Client Clearing fees under the SwapClear Client Clearing service are charged to the clearing member under a choice of two pricing plans.
We are committed to working closely with our clients to tailor our clearing solutions to fit the way the market trades. As a clearing house, we stand in the middle of capital markets, acting as a buyer to every seller and a seller to every buyer. Put simply, we make financial markets safer. Clearing across national boundaries can be confusing. But with the implementation of mandatory European clearing, US and European regulators are now providing greater clarity on the roles and safeguards for CCPs.
Get the latest on mandatory clearing deadlines, rules and regulations, and how they may impact you. The solution will materially improve standardisation and efficiency in the bilateral derivatives market. Read about it here. Find out why more European clients than ever are choosing to clear their portfolios at LCH.
Clearing a large range of commodity types. Optimise your Rates portfolio in one venue. The fee is charged on a per-million notional basis in the currency of the trade as follows:. The Maintenance fee is reduced to 4. The High Turnover Plan incurs an up-front booking fee and an on-going "risk consumption" maintenance fee.
The ongoing risk consumption fee is calculated at 10 basis points annualized on the client's Initial Margin requirement regardless of type of collateral used to cover IM. For each trade terminated from blended rate compression or Multilateral compression, the charge will be:. SwapClear charges all fees to clearing members; members individually make pricing arrangements with clients and confidentially notify SwapClear of the pricing plan for each client.
Clients can switch pricing plans quarterly, and must give SwapClear, LCH reasonable advance notice to make the operational changes necessary to effectuate such a change ,i. A single tariff is applied to a Member in relation to all contracts cleared by that Member and any Member of or Affiliated Firm of its Member Group, either for their own account or with respect to a SwapClear Dealer, within a calendar year.
New SwapClear Clearing Members qualify for a waiver of the applicable booking fee for the first backloaded trades excluding Inflation Swaps that are registered for clearing, for a period of up to 12 months from go- live. A new SwapClear Clearing Member joining the service will be billed the first fixed tariff instalment in the month after member go-live.
A "Member Group" means a SwapClear Clearing Member or an FCM Clearing Member, its direct and indirect subsidiaries and its direct and indirect holding companies and every direct and indirect subsidiary of each such holding company, from time to time. For the purposes of this definition: An "Affiliated Firm" in relation to a Member Group means a firm that satisfies both of the following tests:. If you would like to discuss LCH tariffs please contact your relationship manager for further details.
The fixed-fee arrangement for ad-hoc compression is as follows:. The cost to protect your trades by clearing at SwapClear.