Fees

The cost to clear at EquityClear SA

Clearing your cash equities, cash equities equivalents, derivative and fixed income debt instruments at EquityClear provides your portfolio with LCH’s best-in-class risk management, multilateral netting and unrivalled margin efficiencies.

Below you can find full details on clearing fees at EquityClear SA.

Cash Market Financial Derivatives

Effective from 19 January 2022

 

For further information on fees, please send your request to Billing_Services@lch.com and SAEquityClear@lch.com.

The rates indicated below are expressed in euro and are subject to VAT where applicable and at the applicable rate.

All the fees described in this fee grid are collected on the 10th business day of the following month (monthly charged).

 

I. Clearing fee

A. Guaranteed postings

A1. Standard clearing fee schedule

Per 1 October 2017, LCH SA charges the following fees per guaranteed posting for all Blue Chips (i.e. all constituent ISINs of the AEX25, BEL20, CAC40 and PSI20 indices)

Per 1 January 2018, a list of non Blue Chips (i.e. initially the constituent ISINs of the N100, AMX and Euronext Growth markets) was added to the original Blue Chip list for which these tiered fees will be charged per guaranteed posting. The complete list of these additional ISINs per 1 January 2018 can be found here.)

For clearing members with an Average Daily Volume over 60,000 trades the fee grid will be as follows:

Tiered fee grid for Blue Chips - Average Daily Volume[1]

 

from

to

fee

Tier 1

1

5,000

€0.055

Tier 2

5,001

60,000

€0.045

Tier 3

60,001

105,000

€0.035

Tier 4

105,001

200,000

€0.025

Tier 5

200,001

450,000

€0.020

Tier 6

450,001

650,000

€0.019

Tier7

650,001

 

€0.015

For clearing members with an Average Daily Volume below 60,000 trades, only the first two tiers will be reduced to €0.04 and €0.03.

A monthly cap of €120,000 will apply for this tiered fee schedule.

LCH SA charges €0.10 per posting for any other security not included in the above ISINs (other equities, bonds, ETFs, warrants ...)

 

A2. Clearing fee discount scheme

LCH SA charges a reduced clearing fee in respect of all Blue Chip volumes (including the list of additional ISINs as published per 1 January 2018), for any clearing member (including ‘family members’ as communicated on 13 June 2019) who fulfills the following conditions and eligibility criteria:

 

  1. The clearing member is an active clearing member with both LCH SA and LCH LTD Cash Equities clearing services;
  2. The clearing member has an Average Daily Volume[2] higher than 150,000 trades cleared with LCH LTD and settled in ESES and/or Interbolsa; and
  3. The clearing member agrees to appoint LCH SA as its preferred CCP, or if LCH SA is the primary CCP, not to appoint another CCP as its preferred CCP, for each of the trading venues and other platforms as listed for this purpose on LCH’s website, as amended from time to time;
  4. The clearing member sends to LCH SA a duly signed copy of the Request Letter, as provided by LCH SA, pursuant to which the clearing member notably confirms its compliance with the eligibility criteria and requests to benefit from the reduced clearing fees accordingly.

 

The reduced clearing fees for clearing members meeting such eligibility criteria will be as follows:

Tiered fee grid for Blue Chips – Average Daily Volume

 

from

to

Fee

Tier 1

1

2,500

0.0405

Tier 2

2,501

12,500

0.0255

Tier 3

12,501

45,000

0.0230

Tier 4

45,001

250,000

0.0155

Tier 5

250,001

400,000

0.0115

Tier 6

400,001

550,000

0.0080

Tier 7

550,001

1,200,000

0.0055

Tier 8

1,200,001

1,500,000

0.0045

Tier 9

1,500,001

 

0.0035

 

When applying such reduced clearing fees, LCH SA shall :

  • Determine the applicable Tier by taking into account the total volume of trades cleared across LCH SA and LCH LTD (on-book and off-book) of all the family members of a given Clearing Member to calculate the Average Daily Volume for the month; and
  • Multiply the corresponding fee for that Tier by the clearing member’s Blue Chips monthly Average Daily Volume to calculate the reduced clearing fees for that month.

The reduced clearing fees will not be subject to any cap.

The first bill in which the clearing members meeting the eligibility criteria will benefit from the reduced clearing fees will be for the calendar month in which the Request Letter is fully executed and accepted by LCH SA.

 

List of Trade sources to which LCH SA is connected under a Preferred Clearing Model

 

The table below lists the trading venues and other platforms to which LCH SA is connected under a Preferred Clearing model.

As per paragraph A2, indent (iii) of the reduced clearing fee schedule, Clearing Members wanting to benefit from the reduced clearing fee schedule agree to appoint LCH SA as their preferred CCP for each of the venues and platforms in this list.

 

Trade source*

Operating MIC

Scope of Isins*

Turquoise UK

TRQX

ISINs for which the Primary Market MICs are linked to Euronext Lisbon, Paris, Amsterdam, Brussels and Dublin, with the exclusion of Euronext Growth market

Turquoise Europe

TQEX

ISINs for which the Primary Market MICs are linked to Euronext Lisbon, Paris, Amsterdam, Brussels and Dublin, with the exclusion of Euronext Growth market

CBOE UK

BCXE

ISINs for which the Primary Market MICs are linked to Euronext Lisbon, Paris, Amsterdam, Brussels and Dublin

Euronext Dublin

XDUB

-

 

 

List of Trade sources to which LCH SA is the primary (“by default”) CCP

 

The table below lists the trading venues and other platforms to which LCH SA is the primary (“by default”) CCP.

Please not that Clearing Members wanting to benefit from the reduced clearing fee schedule agree not to appoint another CCP but LCH SA as their preferred CCP for each of the venues and platforms in this list.

 

Trade source*

Operating MIC

Scope of Isins*

Euronext Paris

XPAR

-

Euronext Amsterdam

XAMS

-

Euronext Brussels

XBRU

-

Euronext Lisbon

XLIS

-

Equiduct

XBER

ISINs for which the Primary Market MICs are linked to Euronext Lisbon, Paris, Amsterdam, or Brussels

Luxemburg Stock Exchange

XLUX

-

Turquoise UK

TRQX

Euronext Growth market**

Turquoise Europe

TQEX

Euronext Growth market**

 

* : Trade sources, as well as scope of Isins will continue to extend, based on the roll out of the onboarding of  new Trading Venues and other platforms

**: LCH SA is acting as Exclusive Clearer for Euronext Growth Market for Turquoise UK and Turquoise Europe

 


[1] the Average Daily Volume (ADV) shall be calculated by dividing the total monthly cleared volume by the number of business days in that month.

[2] For the purpose of this indent (ii) only, the Average Daily Volume (ADV) shall be calculated by dividing the total cleared volume of the relevant trades within the last 12 months preceding a given monthly billing date, by the number of business days in those 12 months. In the case of a clearing member that has not been admitted to EquityClear for more than 12 months yet, the ADV shall be calculated based on the period of time starting from the first calendar month following the onboarding date of such clearing member.

 

B. Non-guaranteed postings

LCH SA charges a fixed fee of €0.05 per non-guaranteed posting.

II. Clearing Services

A. Give-up/Take-up

LCH SA charges a fixed fee of €0.10 on each take-up only.

B. Settlement related costs (non applicable to non-guaranteed instructions)

LCH SA’s policy is to recharge Clearing Members with settlement related costs prorata each Clearing Member’s settlement volume per settlement platform. Any settlement charge or fee’s modification by the (I)CSDs will be passed on immediately to Clearing Members by adjusting the variable fee. This fee will be subject to semi-annual review if needed.

LCH SA charges back a variable fee of:

  • € 0.80 per instruction settled in ESES CSDs (Euroclear France, Euroclear Belgium, Euroclear Netherlands)
  • € 2.00 per instruction settled in Euroclear Bank
  • € 0.64 per instruction settled in Interbolsa
  • € 2.40 per instruction settled in NBB-SSS (National Bank of Belgium)
  • € 2.60 per instruction settled in Euronext VPS (Norwegian CSD)

 

In addition, LCH SA charges back a matching fee of € 0.047 per instruction that is matched in T2S platform.

C. Fail penalty fees (non applicable to non-guaranteed postings)

The fail penalty fees are applied to Clearing Members whose transactions fail during the delivery and payment procedures.

The invoicing of penalties applies per open business day on each selling fail per ISIN code, per Delivery Account (all settlement dates aggregated) and per Clearing Member.

The fail penalty fee is made up of:

  • A fixed fee of €15.00
  • A variable fee (("€STR-based rate" + 1.085%) /360 x amount) - Currently, the "€STR-based rate" used will be updated every 1st business day of the month

The sum of the variable parts collected is passed back to Clearing Members on a monthly basis according to the following rules:

  • The passing back is calculated per segment; the variable part of fail penalty fee of a given segment is passed back to Clearing Members active on this segment only,
  • The allocation key is the cash clearing fees paid by each Clearing Member for a given segment,
  • The passing back monthly amount for a given Clearing Member cannot be higher than the variable fail penalty fee effectively paid by this member for the month.

The net difference between fail penalty fee and passing back is collected on the 10th open business day of the following month (example: 10th open business day of February for January fails).

In addition to the abovementioned fail penalties fees, LCH SA will recharge any fines and penalties it has incurred from Central Banks and CSDs, to the Clearing Members that have caused them towards us in accordance with Instruction III.4-3 of the Clearing Rules. We will include them in the monthly invoices.

D. Cash Fail Penalty (non applicable to non-guaranteed postings)

These penalties are applied to Clearing Members whose transactions fail during the delivery and payment procedures. A fee is charged for each business day the default of cash remains unsettled: value of the fail charged at €STR + 2%.

E. Buy-in / Purchase costs (non applicable to non-guaranteed postings)

A fee of €150.00 is charged for each buy-in process initiated by LCH SA in addition to any amount due to meet the cost of purchasing the securities.

If a Member commits to delivering securities in the context of a buy-in procedure and LCH SA notes that this Member fails to deliver them, a penalty of 10% of the  tender price multiplied by the quantity of non delivered securities will be applied to the Clearing Member that had committed to delivering the securities.

Such a penalty shall not exceed € 10,000.00.

III. Other Services

Request for split on instructions sent under Hold mode in T2S

LCH SA charges a fixed fee of € 50.00 for each request for a split of an instruction sent under hold mode.

Request for Pair-Off on instructions sent to T2S / Euroclear Bank

LCH SA charges a fixed fee of € 50.00 for each request for a Pair-Off (fee will be charged from TDN Go Live - September 30, 2019).

View Cash Market Grid as PDF

Effective from 3 December 2021

For further information on fees, please send your request to Billing_Services@lch.com

The rates indicated below are expressed in euro and are subject to VAT at the applicable rate.

I. Clearing fees

A clearing fee is charged for each contract cleared.

This fee varies according to the type of contract involved. All fees described into this section are collected on a monthly basis.

A. Amsterdam clearing segment:"Dutch products"

Product type
(fee per contract)

  Brokers

Liquidity providers

  Client

House-Dealer

Equity options*

€ 0.05

€ 0.03

Single Stock Futures - cash settled 1

€ 0.05

€ 0.02

Single Stock Futures - physically settled 2

Central Order Book

€ 0.05

€ 0.02

Large in Scale

€ 0.075

€ 0.03

Single Stock Dividend Futures

€ 0.50

€ 0.30

Tracker options*

  € 0.05

€ 0.03

AEX Index options*

 € 0.05

€ 0.03

AEX Index futures

Central Order Book

 € 0.14

Large in Scale

€ 0.16

AMX Index options and futures

€ 0.05

€ 0.03

AEX Index mini options

€ 0.015

€ 0.01

AEX Index mini futures

€ 0.015

AEX Dividend index futures

 € 0.13

€ 0.05

MorningStar Eurozone 50 index futures

€ 0.15

€ 0.15

Currency options and futures*

  € 0.05

€ 0.03

Maximum fee per order for Large In Scale / per posting for Central Order Book
(only applicable to products marked with an "*")

  € 40

€ 20

€ 10

1 A cap per posting is applied on cash settled Single Stock Futures: €75 for Brokers and €40 for Liquidity Providers.

2 A cap per posting is applied on physically settled Single Stock Futures: €125 and €150 for Brokers resp. on COB and Large in Scale // €100 and €150 for Market Makers resp. on COB and Large in Scale Liquidity Providers.

 

Amsterdam clearing segment: others products

Product type
(fee per contract)

Brokers

Liquidity Providers

Client

House-Dealer

PSI Index options

€ 0.015

€ 0.01

German Equity options 3

€ 0.02

€ 0.01

Single Stock Futures - cash settled 4

€ 0.05

€ 0.02

Single Stock Futures - physically settled 5

Central Order Book

€ 0.05

€ 0.02

Large in Scale

€ 0.075

€ 0.03

3 These products benefit from a cap per posting: €53.75 for Brokers and €80 for LP.

4 A cap per posting is applied on cash settled Single Stock Futures: €75 for Brokers and €40 for Liquidity Providers.

5 A cap per posting is applied on physically settled Single Stock Futures: €125 and €150 for Brokers resp. on COB and Large in Scale // €100 and €150 for Market Makers resp. on COB and Large in Scale Liquidity Providers.

 

B. Brussels clearing segment

Product type
(fee per contract)

Brokers
(Client and House accounts)

Market Makers

Equity options

€ 0.05

€ 0.03

Single Stock Futures - cash settled 6

€ 0.05

€ 0.02

Single Stock Futures - physically settled 7

Central Order Book

€ 0.05

€ 0.02

Large in Scale

€ 0.075

€ 0.03

Single Stock Dividend Futures

€ 0.50

€ 0.30

BEL20® Index options (BEL)

€ 0.13

€ 0.05

BEL20® Index futures (BXF)

€ 0.40

€ 0.12

6 A cap per posting is applied on cash settled Single Stock Futures: €75 for Brokers and €40 for Market Makers.

7 A cap per posting is applied on physically settled Single Stock Futures: €125 and €150 for Brokers resp. on COB and Large in Scale // €100 and €150 for Market Makers resp. on COB and Large in Scale Liquidity Providers.

 

C. Lisbon clearing segment

Product type
(fee per contract)

Brokers
(Client and House accounts)

Market Makers

PSI 20 Index futures

€ 0.05

€ 0.03

Single Stock futures - cash settled 8

€ 0.05

€ 0.02

Single Stock Futures - physically settled 9

Central Order Book

€ 0.05

€ 0.02

Large in Scale

€ 0.075

€ 0.03

Single Stock Dividend Futures

€ 0.50

€ 0.30

8 A cap per posting is applied on cash settled Single Stock Futures: €75 for Brokers and €40 for Market Makers

9 A cap per posting is applied on physically settled Single Stock Futures: €125 and €150 for Brokers resp. on COB and Large in Scale // €100 and €150 for Market Makers resp. on COB and Large in Scale Liquidity Providers.

 

D. Oslo clearing segment

 

Product type
(fee per contract)

Brokers

Market Makers

Client

House

Equity options

€ 0.085 10

€ 0.02

Single Stock Futures - cash settled 11

€ 0.05

€ 0.02

Single Stock Futures - physically settled 12

Central Order Book

€ 0.05

€ 0.02

Large In Scale

€ 0.075

€ 0.03

Single Stock Dividend Futures

€ 0.50

€ 0.30

OBX Index options

€ 0.095

€ 0.02

OBX Index futures

Central Order Book

€ 0.12

€ 0.10

€ 0.095

Large In Scale

€ 0.13

€ 0.12

€ 0.11

10 A cap per posting is applied on Equity options: €472 for Brokers (Client and House)

11 A cap per posting is applied on cash settled Single Stock Futures: €75 for Brokers and €40 for Market Makers

12 A cap per posting is applied on physically settled Single Stock Futures: €125 and €150  for Brokers resp. on COB and Large In Scale //  €100 and €150 for Market Makers resp. on COB and Large In Scale

 

E. Paris clearing segment

Product type
(fee per contract)

Brokers

Market Makers 13

Previous "Electronic Locals" status 14

Client

House

Equity options – contract size of 100

€0.023

€ 0.05

€ 0.03

N/A

Equity options – contract size of 10

€ 0.02

€ 0.01

Single Stock Futures - cash settled 15

€ 0.05

€ 0.02

Single Stock Futures - physically settled 16

Central Order Book

€ 0.05

€ 0.02

Large in Scale

€ 0.075

€ 0.03

Single Stock Dividend Futures

€ 0.50

€ 0.30

Tracker options

€ 0.05

€ 0.03

CAC40 Options – PXA (€10)

€ 0.13

€ 0.05

CAC40 futures

Central Order Book

€ 0.14

€ 0.05*

Large in Scale

€ 0.15

CAC40 mini futures

€ 0.015

N/A

CAC40 Dividend index futures

€ 0.13

€ 0.05

Euronext® Eurozone Banks Index Future

Central Order Book

€ 0.15

€ 0.12

€ 0.11

Large In Scale

€ 0.23

€ 0.20

€ 0.16

Euronext® Eurozone Banks Index Option

Central Order Book

posting below 500 contracts

€ 0.16

€ 0.13

€ 0.08

         

posting above 500 contracts

€ 0.08

€ 0.07

€ 0.04

Large In Scale

posting below 500 contracts

€ 0.17

€ 0.16

€ 0.10

posting above 500 contracts

€ 0.09

€ 0.08

€ 0.05

Euronext Eurozone ESG Large 80 Index Future

Central Order Book

€ 0.06 € 0.04

€ 0.04

Large In Scale

€ 0.07 € 0.06

€ 0.06

Euronext Eurozone ESG Large 80 Index Option

Central Order Book

€ 0.04

€ 0.04

€ 0.02

Large In Scale

€ 0.05

€ 0.05

€ 0.03

Euronext Eurozone ESG Large 80 Index mini Option

Central Order Book

€ 0.015

€ 0.015

€ 0.01

Large In Scale

€ 0.02

€ 0.02

€ 0.01

FTSEurofirst 80 and FTSEurofirst 100 futures

€ 0.05

€ 0.03

FTSE EPRA/NAREIT Euro Zone and FTSE EPRA/NAREIT Europe futures

€ 0.05

Total Return Future on CAC40 Index

€ 0.30

ISEQ 20® Index Future

Central Order Book

€ 0.06

Large In Scale

€ 0.08

 

* Where a transaction (on the same maturity) is cancelled out with a reverse transaction in the course of the same trading session so that the result is a zero sum, fees are reduced by 50%

13 This specific market maker fees are only applied to members having special arrangements giving specific undertakings under contrat d'animation agreements with the Euronext Derivatives Markets in scheme that has been approved by LCH SA. For further information, please contact Euronext department on +31 (0)20 550 5110, email: LPEurope@euronext.com . See also Paris market making scheme section.

14 These specific fees only apply to a previous status that is not open to new applicants.
15 A cap per posting is applied on cash settled Single Stock Futures: €75 for Brokers and €40 for Market Makers.

16 A cap per posting is applied on physically settled Single Stock Futures: €125 and €150  for Brokers resp. on COB and Large In Scale //  €100 and €150 for Market Makers resp. on COB and Large In Scale

 

Paris Market Making scheme

  • Equity and Index options (MONEP):Total annual clearing and exercise/assignment fees payable by Market Makers on equity and index options (MONEP) may not exceed€100,000
  • Tracker options:Total annual clearing and exercise/assignment fees payable by Market Makers on tracker options may not exceed€10,000 for General Market Makers.

 

Paris "Large trades" on Individual Equity Options (MONEP)

Large trades on equity options benefit from specific fees. "Large trades" are defined as posted trades with:

  • At least 60,000 equity option contracts for contract size of 10 shares
  • At least 6,000 equity option contracts for contract size of 100 shares

Client account

House account

Market Maker account

€ 40 / posting

€ 20 / posting

€ 20 / posting

 

II. Exercise (Tender) / Assignment, Cash Settlement and Delivery fees

Fees described into this section are collected on a monthly basis.

 

A. Amsterdam clearing segment: "Dutch" Products

Product type
(fee per contract)

 Fee Type

Brokers

Liquidity Providers

Client

House-Dealer

Equity options*

 Exercise/Assignment

€ 0.90

€ 0.40

€ 0.30

Single Stock Futures

Cash settlement 17

€ 0.30

€ 0.05

Single Stock Futures

Physical settlement 18

€ 0.30

€ 0.05

Single Stock Dividend Futures

Cash settlement

Dividend group 

Same fees for all origins

  < € 0.50

€ 1.00

0.50-0.99

€ 4.00

≥ € 1.00

€ 6.00

Tracker options*

 Exercise/Assignment

  €0.90 

€ 0.40

€ 0.30

AEX and AMX Index options*

 Exercise/Assignment 

€0.90

€ 0.40

€ 0.30

AEX and AMX Index futures*

Cash settlement

€ 2.40

€ 1.00

AEX Index mini options*

Exercise/Assignment

€ 0.30

€ 0.10

€ 0.05

AEX Index mini futures*

Cash settlement

€ 0.30

€ 0.10

Dividend index futures

Cash settlement

€ 0.30

€ 0.05

Euronext SEBI NR options* and futures

Exercise/Tender/Assignment

€ 0.90

€ 0.40

€ 0.30

MorningStar Eurozone 50 index futures*

Cash settlement

€ 1.50

€ 0.75

€ 0.75

Currency options and futures*

Exercise/Assignment/Cash settlement

€ 0.90

€ 0.40

€ 0.30

Maximum fee per individual exercise/assignment and cash settlement (only applicable to products marked with "*")

 € 1,000

€ 600

€ 500

17 A cap of €200 per individual cash settlement is applied.

18 A cap of €300 per individual physical settlement is applied.

 

Amsterdam clearing segment: others products

Product type
(fee per contract)

 Fee Type

Brokers

Liquidity Providers

Client

House-Dealer

PSI Index options*

 Exercise/Assignment

€ 0.30

€ 0.10

€ 0.05

German Equity options

Exercise/Assignment

€ 0.10

€ 0.10

Single Stock Futures

Cash settlement 19

€ 0.30

€ 0.05

Single Stock Futures

Physical settlement 20

€ 0.30

€ 0.05

Maximum fee per individual Exercise and Assignment (only applicable to products marked with an “*”)

€ 1,000

€ 600

€ 500

19 A cap of €200 per individual cash settlement is applied.

20 A cap of €300 per individual physical settlement is applied.

 

B. Brussels clearing segment

Product type
(fee per contract)

Fee type

Brokers
(Client and House accounts)

Market Makers

Equity options

Exercise/Assignment

€ 0.30

€ 0.05

Single Stock Futures

Cash Settlement 21

€ 0.30

€ 0.05

Single Stock Futures

Physical Settlement 22

€ 0.30

€ 0.05

Single Stock Dividend
Futures

Cash
settlement

 Dividend group 

Same fees for all origins

< €0.50

€ 1.00

0.50-0.99

€ 4.00

≥ € 1.00

€ 6.00

BEL20® Index options

Exercise/Assignment

€ 0.30

€ 0.05

BEL20® Index futures

Cash settlement

€ 0.90

€ 0.17

21 A cap of €200 per individual cash settlement is applied.

22 A cap of €300 per individual physical settlement is applied.

 

C. Lisbon clearing segment

Product type
(fee per contract)

Fee type

Brokers
(Client and House accounts)

Market Makers

PSI 20 Index futures

Cash settlement

€ 0.30

€ 0.05

Single Stock Futures

Cash settlement 23

€ 0.30

€ 0.05

Single Stock Futures

Physical settlement 24

€ 0.30

€ 0.05

Single Stock Dividend
Futures

Cash
settlement

Dividend group

Same fees for all origins

< €0.50

€ 1.00

0.50-0.99

€ 4.00

≥ € 1.00

€ 6.00

23 A cap of €200 per individual cash settlement is applied.

24 A cap of €300 per individual physical settlement is applied.

 

 

D. Oslo clearing segment

Product type
(fee per contract)

Fee type

Brokers

Market Makers

Client

House

Equity options

Exercise/assignment

€ 0.34

€ 0.06

Single Stock Futures

Cash settlement 25

€ 0.30

€ 0.05

Single Stock Futures

Physical settlement 26

€ 0.30

€ 0.05

Single Stock Dividend
Futures

Cash
settlement

Dividend group

Same fees for all origins

< €0.50

€ 1.00

0.50-0.99

€ 4.00

≥ € 1.00

€ 6.00

OBX Index options

Exercise/assignment

€ 0.24

€ 0.06

OBX Index futures

Cash settlement

€ 0.33

€ 0.29

€ 0.27

25 A cap of €200 per individual cash settlement is applied.

26 A cap of €300 per individual physical settlement is applied.

 

E. Paris clearing segment

Product type
(fee per contract)

Fee type

Brokers

Market Makers 27

Previous "Electronic Locals" status 28

Client

House

Equity options (100)

Exercise/Assignment

€ 0.30

€ 0.05

N/A

Equity options (10)

Exercise/Assignment
Cash settlement

€ 0.05

€ 0.02

Single Stock Futures

Cash Settlement 29

€ 0.30

€ 0.05

Single Stock Futures

Physical Settlement 30

€ 0.30

€ 0.05

Single Stock Dividend Futures

Cash
settlement

Dividend group

Same fees for all origins

< €0.50

€ 1.00

0.50-0.99

€ 4.00

≥ € 1.00

€ 6.00

Tracker options

Exercise/Assignment

€ 0.30

€ 0.05

CAC40 Options - PXA

Exercise/Assignment

€ 0.30

€ 0.05

CAC40 futures

Cash settlement

€ 0.30

€ 0.05

CAC40 mini futures

Cash settlement

€ 0.10

N/A

CAC40 Dividend Index futures 

Cash settlement

 € 0.30

€ 0.05

Euronext® Eurozone Banks Index Future

Cash settlement

€ 0.35

€ 0.30

€ 0.25

Euronext® Eurozone Banks Index Option

Cash settlement

€ 0.40

€ 0.33

€ 0.24

Euronext Eurozone ESG Large 80 Index Future

Cash settlement

€ 0.14

€ 0.10

€ 0.10

Euronext Eurozone ESG Large 80 Index Option

Cash settlement

€ 0.11

€ 0.09

€ 0.07

Euronext Eurozone ESG Large 80 Index mini Option

Cash settlement

€ 0.04

€ 0.03

€ 0.02

FTSEurofirst 80 and FTSEurofirst 100 Futures

Cash settlement

€ 0.30

€ 0.05

FTSE EPRA/NAREIT Euro Zone and FTSE EPRA/NAREIT Europe futures

Cash settlement

€ 0.30

Total Return Future on CAC40 Index

Cash settlement

€ 0.90

ISEQ 20® Index Future

Cash settlement

€ 0.20

27 Equity/Index/Tracker Option Exercise and Assignment fees are taken into account for the market maker annual cap on fees (see also Paris Market making scheme section)
28 These specific fees only apply to a previous status that is not open to new applicants.

29 A cap of €200 per individual cash settlement is applied.

30 A cap of €300 per individual physical settlement is applied.

 

III. Clearing services

Fees described into this section are collected on a monthly basis.

A fee of € 0.06 is charged per contract for both Internal and External corrections and Internal and External transfers (except transfer for restructuring see below).

The keys for fee distribution between sending Clearing Member and receiving Clearing Member are (distribution decision is made by the sending member only):

  • Case n°1: 0% for sending Clearing Member - 100% for receiving Clearing Member
  • Case n°2: 50% for sending Clearing Member - 50% for receiving Clearing Member
  • Case n°3: 100% for sending Clearing Member - 0% for receiving Clearing Member
  • Case n°4: 0% for sending Clearing Member- 0% for receiving Clearing Member; this case is not applicable, therefore the fees will be by default the Case n°2: 50% for sending Clearing Member - 50% for receiving Clearing Member.
     

Transfer fee for restructuring:

Transfers of positions resulting from the decision of an order-giver to change clearer, a change in the accounts attributed to the order-giver or a Clearing Member's closure are subject to special rates.

A fee of € 3.80 is charged per transfer. The total amount may not exceed € 300 per request and per financial market 31. The fee is payable by the Clearing Member receiving the transfer (the above keys for fee distribution do not apply here).

The creation of positions on the position account of the Clearing Member is subject to special rates. The positions are updated in real time on the account of the Clearing Member. Only LCH SA is authorized to use the function of positions' creation. The fees for this operation are:

  • A creation of position between 0 and 100 lots: € 10.00
  • A creation of positions over 100 lots: € 50.00

31 Amsterdam, Brussels, Lisbon, Oslo, Paris commodities or Paris financials

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