Fees

SwapClear Client Clearing Fees

The following information is supplemented by the Notes sections.

Terms used on this page and not defined on this page have the meaning assigned to them in the Rulebook or FCM Rulebook of LCH, as applicable.

For the purposes of the below, a ‘trade’ or 'contract' means a SwapClear Contract or FCM SwapClear Contract, as applicable. References to SwapClear Clearing Members shall include FCM Clearing Members, as applicable.

SwapClear client clearing fees for SwapClear Client Clearing Services and FCM SwapClear Clearing Services are charged to a Clearing Member under a choice of two pricing plans.

Standard Plan

The Standard Pricing Plan has an up-front booking fee and an ongoing maintenance fee.

Booking fee

New trades are charged on a per-million notional basis in the currency of the trade as set out in the table below. The booking fee is incurred at the time that the trade is cleared and collected monthly in arrears.

Maintenance Fee

The maintenance fee is incurred annually on the anniversary date of the registration of each trade, collected monthly in arrears and is not payable for trades terminated before their anniversary date. The fee is charged on a per-million notional basis in the currency of the trade as set out in the table below.

Standard Plan
Booking Fee Interest Rate Swaps
Non-Deliverable Interest Rate Swaps Inflation Swaps
Transaction Maturity
0 - 1 year 0.90 0.90 1.40
1 year+ to 3 year 2.25 2.25 3.40
3 year+ to 5 year 4.05 4.05 6.10
5 year+ to 7 year 5.40 5.40 8.10
7 year+ to 10 year 7.20 7.20 10.80
10 year+ to 12 year 8.10 8.10 12.20
12 year+ to 15 year 9.00 9.00 13.50
15 year+ to 20 year 13.50 13.50 20.30
20 year+ to 25 year 16.20 16.20 24.30
25 year + to 51 year 18.00 18.00 27.00
Maintenance Fee
Fee per million of notional 3.00 3.00 12.00

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