CurveGlobal Markets - Fee Schedule


Interest Rate Futures Fee Schedule

All fees are paid to the Designated Clearing House by the Clearing Member for the product in question. This happens at the time specified in the relevant statement issued to the Member by the Designated Clearing House. Note that separate fees are charged for trading and clearing.

Details of fee incentive programs are listed here. Any new incentive programs or temporary adjustments to any fees shall be notified to Members by way of a market notice and corresponding update to the Fee Schedule document (and these Web Pages).

All fees are charged to both counterparties.

A full description of the CurveGlobal Markets Fee Schedule together with details on the Billing Process can be found in the document library. (Links to both documents also at foot of this page)


Current incentive offers

CurveGlobal Markets currently offers the following incentive schemes:    

  • A Principal Trading (PT) scheme,
  • A Designated Liquidity Provider (DLP) scheme, operated via a tender process, and
  • A Pre-Paid (PP) trading fee scheme which is available to all Members and their clients.

Contact the CurveGlobal team if you are interested in the incentive schemes.



Standard Fees

Fee Type

Short Term Interest Rate Futures

Medium / Long Term Interest Rate Futures

Three month Euribor®

Three month Sterling

Three month SONIA

One month SONIA

Schatz

Bobl

Bund

Long Gilt

Trade fee

EUR
0.17
per contract

GBP
0.13
per contract

GBP
0.11 per contract

GBP
0.11 per contract

EUR
0.09
per contract

EUR
0.09
per contract

EUR
0.09
per contract

GBP
0.10 per
contract

BNT1 fee (including Block Trades)

LCH Clearing fee

EUR
0.07
per contract

GBP
0.07
per contract

GBP
0.07
per contract

GBP
0.07
per contract

EUR
0.07
per contract

EUR
0.07
per contract

EUR
0.07
per contract

GBP
0.07
per contract

Physical Delivery

 

 

 

 

EUR
3.00 per delivery transaction

EUR
3.00 per delivery transaction

EUR
3.00 per delivery transaction

GBP
2.75 per delivery transaction

Settlement

EUR 0.07 per lot

GBP 0.07 per lot

GBP 0.07 per lot

GBP 0.07 per lot

 

 

 

 

Note:

1.     Please refer to the Bilaterally Negotiated Trade Guidance available at the CurveGlobal Markets Document Library at www.lseg.com/derivatives/document-library for definitions and further details.



Principal Trading (PT) Scheme

Principal Traders2 benefit from reduced fees and Volume Discount3,4, as follows:

Fee Type

Short Term Interest Rate Futures

Medium / Long Term Interest Rate Futures

Three month Euribor®

Three month Sterling

Three month SONIA

One month SONIA

Schatz

Bobl

Bund

Long Gilt

Trade fee

EUR
0.043
per contract

GBP
0.0485
per contract

GBP
0.028 per contract

GBP
0.028 per contract

EUR
0.023
per contract

EUR
0.023
per contract

EUR
0.023
per contract

GBP
0.025 per
contract

BNT fee (including Block Trades)

LCH Clearing fee

EUR
0.035
per contract

GBP
0.035
per contract

GBP
0.035
per contract

GBP
0.035
per contract

EUR
0.035
per contract

EUR
0.035
per contract

EUR
0.035
per contract

GBP
0.035
per contract

Physical Delivery

 

 

 

 

EUR
3.00 per delivery transaction

EUR
3.00 per delivery transaction

EUR
3.00 per delivery transaction

GBP
2.75 per delivery transaction

Settlement

EUR 0.07 per lot

GBP 0.07 per lot

GBP 0.07 per lot

GBP 0.07 per lot

 

 

 

 

Notes:

2.   A Principal Trader is defined as a firm that trades exclusively against its own proprietary capital. Firms must apply and be accepted on to the Principal Trading Scheme by CurveGlobal Markets before the reduced fees can apply. For further details please contact the CurveGlobal Markets Products team at products@curveglobalmarkets.com.

3.     Until 30 June 2020 the Principal Trading Scheme Trade Fee, BNT Fee and LCH Clearing Fee benefit from a 50% fee discount.

4.     To qualify for the scheme’s fees a valid client reference must be provided for each trade according to the process set out in the CurveGlobal Markets Fee Schemes and Billing Process document, available on the document library https://www.lseg.com/derivatives/document-library.

5.     The Three month Sterling contract has a fixed element of third party license costs. This fixed cost does not benefit from the 50% discount.



Designated Liquidity Provider (DLP) Scheme

Fee Type

Short Term Interest Rate Futures

Medium / Long Term Interest Rate Futures

Three month Euribor®

Three month Sterling

Three month SONIA

One month SONIA

Schatz

Bobl

Bund

Long Gilt

Trade fee

0

0

0

0

0

0

0

0

BNT fee (including Block Trades)

LCH Clearing fee

0

0

0

0

0

0

0

0

Physical Delivery

 

 

 

 

EUR
3.00 per delivery transaction

EUR
3.00 per delivery transaction

EUR
3.00 per delivery transaction

GBP
2.75 per delivery transaction

Settlement

EUR 0.07 per lot

GBP 0.07 per lot

GBP 0.07 per lot

GBP 0.07 per lot

 

 

 

 



Pre-Paid (PP) Fee Scheme

Pre-paid fee scheme subscribers can execute an unlimited number of lots in any CurveGlobal Markets Interest Rate derivatives product, over the period of the relevant scheme, for a fixed trading fee.

Term

One Year Scheme6

Three Year Scheme

Period

1 Jan – 31 Dec 2020

Year 1 (1 Jan – 31 Dec 2020)
Year 2 (1 Jan – 31 Dec 2021)
Year 3 (1 Jan – 31 Dec 2022)

Fee Payable

£250,000

Year 1 (£250,000)
Year 2 (£400,000)7
Year 3 (£500,000)7

Application Deadline

30 Jun 20208

30 Jun 20208

Notes:

6.      Further one year schemes are expected to be available from 2021.

7.      Year 2 and Year 3 fees can be varied, subject to notice, but will not be higher than the amounts shown.

8.      Year 1 fees will be prorated for any firm joining after 1 January 2020 up to the Application Deadline.



Document Links

CurveGlobal Markets Fee Schedule: https://www.lseg.com/sites/default/files/content/documents/Fee Schedule.pdf.
CurveGlobal Markets Fee Schemes and Billing Process: https://www.lseg.com/sites/default/files/content/documents/CurveGlobal Markets Fee Schemes and Billing Process.pdf.