One-Time and Periodic Fees

a. Membership

£1,500 plus VAT (one-time joining fee)

b. Connectivity

To receive operational reports from the Clearing House, members must have appropriate direct or indirect communications links.

The Clearing House provides direct links, typically 2 x 2MB leased lines. The one-off and ongoing costs to members are as quoted in each instance by the telecommunications supplier, such as BT. These costs will vary according to capacity, configuration, member's location and building infrastructure.

Alternative VPN connections may be possible in some cases: these are provided by the relevant supplier. The Clearing House will charge for implementation support of such VPN links on an individual quotation basis.

Members may also link indirectly to receive Clearing House reports via their communications links to CREST and/or Euronext.liffe.

c. Software

Banking, RepoClear® and SwapClear® reports are delivered in Business Objects report or in text file format. Clearing Members who wish to use the Business Objects report format should purchase software licence(s) directly from the supplier as appropriate.