SwapClear Fee Schedule Changes

Report date

Circular No.

 LCH Circular No 3675

Service Circular No.

SwapClear Circular No 146


 18 November 2015


Dear Member,
We would like to advise you of forthcoming changes to the Swapclear fee schedule which will take effect from 1st January 2016. (Subject to Regulatory review)

Updated SwapClear Compression Fee schedule
Introduction of SwapClear Portfolio Transfer Fee schedule
Full details of the updated SwapClear Compression Fee schedule and the SwapClear Portfolio Transfer Fee schedule are provided in the PDF attached here.

A summary of these changes is shown below:

(Please note the SwapClear Fee schedule published on the LCH.Clearnet website will be updated to reflect these changes as of 1st January 2016)

i) SwapClear Compression Fees (effective from 1st Jan 2016)


Scheduled Compression


1. Risk replacement trades resulting from a compression run will not attract a registration fee (where applicable).

2. Any Approved Compression Service Provider (ACSP) fees are payable in addition to the LCH fees.

ii) SwapClear Portfolio Transfer Fee schedule (effective from 1st January 2016)

I. A fee is payable by a SwapClear Clearing Member which receives a Portfolio Transfer.
II. A Member Group is entitled to 500 Portfolio Transfer trades in a calendar year free of charge.
III. Each Portfolio Transfer is charged at £12.50 per Contract that is transferred.
IV. Fees for portfolio Transfers are capped at £300k per Member Group in any calendar year.

For the purposes of this section a “Portfolio Transfer” means:

(i) The transfer of SwapClear Contracts or FCM SwapClear Contracts registered to the Proprietary Account of one SwapClear Clearing Member to the Proprietary Account of another SwapClear Clearing Member.
(ii) The transfer of SwapClear Contracts registered in a SwapClear Clearing Member’s Proprietary Account from:

1. one SCM Branch to another SCM Branch; or
2. one SwapClear Dealer to another SwapClear Dealer.

Please feel free to contact SwapClear MembershipSales2@LCHClearnet.com if you have any further questions.
Best Wishes
SwapClear Membership Sales