SwapClear MXN and NDIRS swaps fee holiday

Report date
Summary

Circular No.

LCH Circular No 4047

Date:

16 September 2019

To:

All LCH Limited SwapClear Clearing Members
Body

Dear SwapClear Member,

LCH Limited hereby informs SwapClear Clearing Members of the fee holiday that will apply to cleared MXN TIIE swaps and non-deliverable interest rate swaps (“NDIRS”), subject to regulatory non-objection.  Please note, the fee holidays set forth below supersede the fee holidays as detailed in circulars numbered 3996, dated 14 December 2018, and 4011, dated 01 March 2019.

Clearing Member – All Tariffs

A SwapClear Clearing Member or Member Group that has elected the Bronze Tariff, the Silver Tariff, Gold Tariff or Platinum Tariff, shall have the following MXN fee holiday applied effective from 1st October 2019- 31st March 2020:

  • Platinum and Gold Member Tariffs: Fee holiday for Compression and Portfolio Transfer fees
  • Silver and Bronze Member Tariffs: Fee holiday for Registration, Compression and Portfolio Transfer fees

 

A SwapClear Clearing Member or Member Group that has elected the Bronze Tariff, the Silver Tariff or Gold Tariff and electing for NDIRS Plan B, as set out in circular No 3996, dated 14 December 2018, shall have the following NDIRS fee holiday applied effective from 1st October 2019- 31st March 2020:

  •  Fee holiday for Registration, Compression and Portfolio Transfer fees

 

SwapClear Client Clearing Fees*

MXN and NDIRS fee holiday applied effective from 1st October 2019- 31st March 2020 for Registration and Compression fees

The Clearing House charges all fees to Clearing Members. Clearing Members individually make pricing arrangements with Clients.

Kind regards,

LCH Relationship Management

Terms used in this circular have the meaning assigned to them in either the Rulebook or FCM Rulebook (as applicable), available at www.lch.com. The terms ‘SwapClear Clearing Member’ and ‘SwapClear Contract’ include an ‘FCM Clearing Member’ and an ‘FCM SwapClear Contract’.

*For technical reasons, maintenance fees will be payable from go-live for SwapClear Contracts entered with respect to SwapClear Clearing Clients and FCM Clients, and the fees associated shall be payable prior to1st October 2019.