Waiver of clearing fees for Freight Capesize Position Transfers
|
Originating department: |
Commodities |
|
Circular No. |
LCH Circular No 3835 |
|
Service Circular No. |
EnClear Circular No 451 |
|
Date: |
26th January 2017 |
|
To: |
All LCH Ltd members |
Dear Member,
LCH would like to advise its Members that, in order to facilitate the Freight market with the transition of FFA positions in the Capesize 4TC contract (CTC) to the Capesize 5TC contract (CPT), LCH will not be charging clearing fees for any trades that are executed as part of this transition between now and the end of February 2017.
The transition must be done by simultaneously trading out of a CTC contract and opening an equivalent CPT contract. LCH must be notified by email by the executing broker of any such transfer trades, as soon as the trade is registered, and fees will be rebated at the end of the month, alongside contra trades and tiered volume rebate.
Please do not hesitate to contact Isabella.kurek-smith@lch.com if you have any questions