| LCH circular number: | 4174 |
| Date: | October 15, 2021 |
| To: | All LCH Limited EquityClear Clearing Members |
Dear LCH Limited EquityClear Clearing Member,
We would like to advise you of the following changes to the LCH Limited (LCH) EquityClear fees, effective 1 November 2021:
OTC Trades: EquityClear’s OTC Trade fee will be banded alongside clearing fees, replacing the current flat fee per trade of this type. In addition, the service will introduce a monthly cap of £20k on off-order book fees, per member group. The bandings will be implemented as follows:
| Clearing Volume Band | Off-Book Transaction Fee |
| Band 1 | £ 0.080 |
| Band 2 | £ 0.080 |
| Band 3 | £ 0.080 |
| Band 4 | £ 0.080 |
| Band 5 | £ 0.060 |
| Band 6 | £ 0.050 |
| Band 7 | £ 0.045 |
| Band 8 | £ 0.040 |
| Band 9 | £ 0.040 |
| Band 10 | £ 0.030 |
| Band 11 | £ 0.030 |
For this purpose, “OTC Trade” means a trade, the terms of which are (a) agreed bilaterally outside a trading venue, and (b) submitted to such trading venue for execution or matching (off order book) in accordance with its rules.
Settlement fee: LCH will reduce the settlement fee in the following markets:
- Denmark: from DKK24 per settlement to DKK14 per settlement
- Germany: from EUR1.60 per settlement to EUR1.40 per settlement
- Sweden: from SEK18.00 per settlement to SEK17.00 per settlement
The fee changes will be effective 01 November 2021 and will be updated at the following link: https://www.lseg.com/en/post-trade/clearing/lch-services/equityclear/equityclear-ltd/fees
If you have any questions or need more information, please contact the Securities Client Services Team at: securitiesclientserviceLTD@lch.com
Yours sincerely,
Alex Krunic
Head of Equities, LCH Limited