Treasury Fees

Effective from 1st November 2016

The rates indicated below are expressed in euros and are subject to VAT at the applicable rate.

Fees on Collateral

Fees on collateral are based on daily collateral balances placed by members at LCH SA.
Invoices are raised monthly and settlement occurs three business days after the month end. If there is a currency bank holiday, settlement takes place on the next available business day.
 

A. Cash deposited as collateral

LCH SA applies the following interest rates:

Currency

Unsecured overnight index Cash Collateral Fee / Spread (bps)
All Markets* CDSClear Clients

EUR

EONIA

30 15

GBP

SONIA

35 20

USD

FEDFUND

30 15

* ‘All markets’ encompass CDSClear (House activity only), Listed Derivatives, Listed Commodities, EquityClear, RepoClear and €GCPlus (House & Clients activities)

LCH SA will continually review this against market conditions.

B. Securities deposited as collateral

LCH SA charges a fee of 10bp on the amount of allocated securities collateral (except for CDSClear Clients which are free of charge).

C. Default Funds

LCH SA charges a fee of EONIA - 20bp on the amount of Default Funds.

D. Central Bank Guarantee

LCH SA charges a fee of 10bp on the amount in Central Bank Guarantee.
 

Collateral Management

LCH SA charges a fee for each movement of collateral securities depending on the type of securities and the depository:


Equities

Deposited in EUROCLEAR France, EUROCLEAR Belgium,
Interbolsa

15 euros

Deposited in EUROCLEAR Bank

25 euros

Bonds

Deposited in EUROCLEAR France, EUROCLEAR Belgium,
NBB, Interbolsa

10 euros

Deposited in EUROCLEAR Bank

20 euros

Single Pledgor Pledged Account

All fees linked to the opening and the use of a Single Pledgor Pledged Account are re-charged by LCH SA to the Member benefiting from such account.

 

 

Payment Agent Report

An added value service for the paying agent has been created; two reports are available:

  • First report: Net payment position document; this consolidated report provides, for a given paying agent:

    • The entire list of its clients' payments,
    • The payment limits (for each client),
    • And the difference between the payments and the limits if the latter have been exceeded.
  • Second report: Cash document of exceeded payment limits; this specific report focuses, for a given paying agent, on all clients that exceed their payment limit.

The subscription to this optional added value service is charged €530 per year for the two reports (it is not possible to subscribe to only one report).

For further information on this new service, please send your request to: treasury.ops.fr@lch.com

Click here to view this information as a pdf.