Custody Services

Effective from 2nd January 2015


Price of custody services (i.e. fees on margin cover collateral)

Credit Variation Margin   

Not allowed to cover a Debit Cash position

No charge or payment to cover IM or debit CVM
Securities LCH charges 0.10% to cover House and Client IM and CVM after offset in all clearing services, however a charge 0% applies to cover Client IM in the SwapClear and Listed Rates services.

Notes:

LDR – London Deposit Rate-the rate at which the Clearing House will pay or charge interest on credit cash balances (excluding DF Contributions and SwapClear Client Financial account).

CDR – Client Deposit Rate – the rate at which the Clearing House will pay or charge interest on credit cash balances on SwapClear Client financial accounts. (Only applies to cash balances in EUR, GBP or USD. All other currencies attract LDR).

LDR rates:

EURO - EONIA (minus 48bps) (for all business lines except RepoClear)
RepoClear: EURO – EONIA adjusted by a Spread* intended to achieve an approximate Target Return of 17.5bps to LCH.Clearnet Ltd
GBP – SONIA (minus 20bps) (for all business lines except RepoClear)
RepoClear: GBP – SONIA adjusted by a Spread* intended to achieve an approximate Target Return of 17.5bps to LCH.Clearnet Ltd
USD – Fed funds (minus 23bps) (for all business lines except RepoClear)
RepoClear: USD – Fed Funds adjusted by a Spread* intended to achieve an approximate Target Return of 17.5bps to LCH.Clearnet Ltd

JPY – TONAR (minus 30bps)
CAD – CORRA (minus 30bps)
SEK – STIBOR (minus 30bps)
NOK – NOWA (minus 30bps)
CHF – TOIS (minus 35bps)
DKK – DETNTIN (minus 30bps)



*For EURO, GBP & USD the Spread will be provided on the 17th day of each month or, next London business day if this date falls on a non-London business day. If required, intra-month reviews of the spread may occur should market conditions or circumstances demand it. This information will be published on the Fixed Income clearing member portal, see link below https://clearingservices.lchclearnet.com

CDR rates:

EURO - EONIA (minus 15bps)
GBP – SONIA (minus 5bps)
USD – Fed funds (minus 10bps)