LCH circular number: | 4312 |
Date: | June 10, 2024 |
To: | All LCH Ltd EquityClear Clearing Members |
Dear LCH Ltd EquityClear Clearing Member,
Please be advised of certain changes to the LCH Ltd (LCH) EquityClear Clearing Members’ fees, affecting certain settlement, settlement fail/ penalty and inter-CCP fees. These changes will be effective from 1st July, 2024.
- The current ETF, ETN and ETC settlement fee rebate amount remains unchanged at 3.50 EUR whilst the first condition for eligibility reduces from a combined 6-month rolling average of 15,000 monthly ETF, ETN and ETC settlements in Euroclear Bank to a combined 6-month rolling average of 8,000 monthly ETF, ETN and ETC settlements in Euroclear Bank.
- There is no change to the remaining condition of an Average Daily Volume (ADV) measured over a 6-month rolling period of 10,000 cleared trade sides with subsequent settlements in Euroclear UK & International (EUI).
- Settlement fees in Sweden will change from 17 SEK to 19 SEK per settlement.
- Settlement fees in Finland will change from 2.65 EUR to 2.95 EUR per settlement.
- Settlement fees in Norway will change from 20 NOK to 22 NOK per settlement.
- Settlement fees in Denmark will change from 18 DKK to 20 DKK per settlement.
- Settlement fees in Euroclear UK & International (EUI) will change from 0.82 GBP to 0.85 GBP per settlement.
- Settlement fail/ penalty fees currently charged at 21.50 GBP will be charged at 22.50 GBP.
- Those settlement fails currently charged at 2.00 GBP (i.e.: for Market Maker Instructions received from the London Stock Exchange and or the Six Swiss Exchange as described on the LCH Ltd EquityClear Service Fees page on lch.com) will not be changed.
- The monthly cap of 20,000 GBP on OTC clearing fees will change to 22,000 GBP.
- Inter-CCP fees of 0.30 GBP per eligible settlement will change to 0.33 GBP.
If you have any questions relating to these changes then please contact: securitiesclientserviceLTD@lch.com
Yours Sincerely
Ivan Gilmore
Head of Cash Equities, LCH Ltd & LCH SA