LME Clear Tariff. May Please respond to: LME.COM/CLEAR

Transcription

1 LME Clear Tariff May 2017 Please respond to: LME CLEAR LIMITED 10 Finsbury Square, London EC2A 1AJ Tel +44 (0) A private limited company. Registered in England no Registered office as above. LME.COM/CLEAR

2 LME Clear Tariff Changes in LME Clear Deposit Rate effective from 3 rd January 2017 All third party transaction fees will be passed through to Members at cost Fee Definition (Excluding / and LMEprecious) Clearing Fee per lot (please see below for Incentive s)**** $0.25 Option Exercise/Assignment per lot $0.35 Cash Settlement Fee per lot $0.08 Delivery Fee per lot $0.35 Fee Definition LME Futures (please see below for Incentive s)**** Clearing Fee (per leg per side per lot) $0.03 Cash settlement fee $0.02 Fee Definition LMEprecious- Gold and Silver Futures (please see below for LMEprecious notes) *All fees are per leg per lot per side House Account LMEselect - Tom and Spot $0.12 House Account LMEselect - Tom/Next Carry $0.005 House Account LMEselect - Monthlies, all other dailies and $0.15 Client Account LMEselect - Tom and Spot $0.28 Client Account LMEselect - Tom/Next Carry $0.005 Client Account LMEselect- Monthlies, all other dailies and $0.28 House Account Interoffice - Tom and Spot $0.09 House Account Interoffice - Tom/Next Carry $0.005 Page 2

3 House Account Interoffice - Monthlies, all other dailies and House Account Interoffice- Post-trade functions (Including give-ups, reversal/corrections and position transfers) $0.12 $0.02 Client Account Interoffice- Tom and Spot $0.21 Client Account Interoffice- Tom/Next Carry $0.005 Client Account Interoffice- Monthlies, all other dailies and $0.21 Client Account Interoffice- Post Trade functions (Including giveups, reversal/corrections and position transfers) $0.02 Fee Definition (Post Trade Services) Position Transfer Fees Member Transferor Fee (per lot) $0.10 Member Transferee Fee (per lot) $0.10 Compression Charge per lot Compressed $0.01 Membership and Account Fees Annual Membership fee GCM 1 including one House, one OSA and one ISA account Annual Membership fee GCM 2 including one House, one OSA and one ISA account $25,000 $17,000 Annual Membership fee ICM 3 $14,000 Annual OSA Fee (per additional a/c) $5,000 Annual ISA Fee (per additional a/c) $1,700 One off Application Fee $1,700 1 Clears for other LME Exchange Members 2 Clears for clients 3 Clears only for itself Page 3

4 Default Funds & Margin Deposit Currency EUR GBP JPY CNH Bonds and Gold LME Warrants LME Clear Deposit Rate* EONIA minus 50 bps** SONIA minus 30 bps** Fed Funds minus 20 bps** TONAR minus 30 bps** CDIR minus 30 bps*** 10 bps on the value of the collateral lodged 25 bps on the value of the collateral lodged Notes: * LME Clear Deposit Rate - the rate at which LME Clear will pay or charge interest on credit cash balances. **For EURO, GBP, & JPY the treasury associated debit or credit will be calculated daily and applied to Members accounts monthly. If required, intra-month reviews of the LMDR may occur should market conditions or circumstances demand it. This information will be published on LMEmercury. ***CNH Daily Investment Rate (CDIR) is based on the investment rate achieved by LME Clear. The treasury associated debit or credit will be calculated daily and applied to Members accounts monthly. If required, intramonth reviews of the LMDR may occur should market conditions or circumstances demand it. This information will be published on LMEmercury. Firms that qualify for the following LME Incentive s will be eligible for clearing fee rebates as described in the relevant LME and LME Clear Member Notices outlined below: Contracts Incentive scheme Launch date Member Notice and Rules References 10 August LME Clear Member Notice LME Member Notice 15/254 : A248 LME Member Notice 16/121: A117 New Market Participant 1 September LME Clear Member Notice LME Member Notice 15/254 : A248 Page 4

5 LME Member Notice 16/121: A117 Market Making 1 October LME Clear Member Notice LME Member Notice 15/264 : A257 Nickel, Lead and Tin Nickel, Lead and Tin New Market Participant 3 May 2016 LME Member Notice 16/121: A117 LME Clear Rules and Procedures: 3 May 2016 LME Member Notice 16/121: A117 LME Clear Rules and Procedures: Premium, Market-wide Incentive ; Market Maker ; 23 November LME Member Notice 15/263 Economic Benefit 23 November LME Member Notice 15/263 All contracts Fees Application of the Fee CAP for LME position Transfers 23 August 2016 LME Member Notice 16/290 A284 Market Making 3 January 2017 LME Member Notice 16/389 A:382 Page 5