SwapClear MXN swaps fee holiday

Dear SwapClear Member,

In accordance with the second phase of clearing for SwapClear Contracts that are non-deliverable interest rate swaps (“NDIRS”), LCH Limited hereby informs SwapClear Clearing Members of the fee holiday that will apply to cleared MXN TIIE swaps, subject to regulatory non-objection.  Please note, fee tariffs and related fee terms set forth below compliment the NDIRS Fee Tariffs as detailed in circular No. 3996, dated 14 December 2018.

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 18th March 2019- 30th September 2019:

• 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

SwapClear Client Clearing Fees*

MXN fee holiday 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.