Revisions to the LCH Limited (“LCH”) EquityClear Fees

Report date

Circular No.

LCH Circular No 3920


15 December 2017


All LCH Ltd Members


Please be advised of the following changes to the EquityClear fee tariffs, effective 2 January 2018.  

Crest Messaging Fees
To introduce consistency amongst the markets served and to align fees to our costs, the Crest Messaging Fee will increase to 6p per settlement.

Switzerland Settlement Fees
Currently, LCH charges a separate settlement fee for those obligations derived from SIX Swiss Exchange only versus obligations derived from alternative trading venues.  This settlement fee will now be consistent for all members, regardless of where the settlement is derived from at CHF0.95 per settlement.  

Please note there is no impact to those members who trade and clear through LCH on alternative venues and cross net the positions with SIX Swiss Exchange.

Annual Membership fees for Non Clearing Members (“NCMs”)
LCH will increase the annual NCM membership fee from £2,000 per annum to £2,500 per annum.  The fee change is as a result of increased focus on the maintenance of accounts, additional reporting and bespoke technical development for NCM clearing.

Annual Account Fees for the Indirect Net Account and the Indirect Gross Account
As a result of MiFID II, LCH has introduced two new client accounts: (1) the Indirect Net Account, which is charged at £1,000 per annum, and (2) the Indirect Gross Account, which is charged at £3,000 per annum. 

If you have any questions regarding the new fee structure, please contact:

Ian Mackenzie, Tel: +44 (0)207 426 7265 / Email:

Tim Beckwith, Tel: +44 (0)207 426 7276 / Email: