Please respond to: LME CLEAR LIMITED 10 Finsbury Square, London EC2A 1AJ Tel +44 (0) LME.

Transcription

1 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 All third party transaction fees will be passed through to Members at cost. Please see below for Incentive s. Fee Definition (Excluding Steel Scrap/Rebar and LMEprecious) Clearing Fee per lot (if not specified below) Short-dated carries 1 per lot - effective 1 October 2017 Medium-dated carries 2 per lot - effective 1 November 2017 $0.25 $0.10 $0.15 Option Exercise/Assignment per lot $0.35 Cash Settlement Fee per lot $0.08 Delivery Fee per lot $0.35 Fee Definition LME Steel Scrap and Steel Rebar Futures 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 $ Short-dated carries are where all carry dates are between the TOM date (next LME business day) and 15 calendar days forward from the TOM date inclusive (see 2 Medium-dated carries are carry trades which are not short-dated, and where all legs are within 35 days forward from the closest prompt date (see Page 2

3 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 House Account Interoffice - Monthlies, all other dailies and House Account Interoffice - Post-trade functions (Including give-up executor trades, 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 Client Account Interoffice - Post Trade functions (Including give-up executor trades, reversal/corrections and position transfers) $0.21 $0.02 Client Account Interoffice Post Trade functions -Give up clearer trades $0.14 The Clearing Fee applied to Client Account trades originating from Affiliates of Members of the LMEprecious Service shall be the relevant House Account Clearing Fee. Fee Definition (Post Trade Services) Please refer to the Position Transfer Detailed Service Specification Eligible Position Transfer Fees Member Transferor Fee (per lot) $0.10 Member Transferee Fee (per lot) $0.10 Compression Charge per lot Compressed $0.01 Page 3

4 Membership and Account Fees Annual Membership fee For each service a GCM 3 receives one House, one Net OSA (NOSA), One Gross OSA (GOSA) and one ISA account Annual Membership fee For each service a GCM 4 receives one House, one Net OSA (NOSA), one Gross OSA (GOSA) and one ISA account Annual Membership fee For each service an ICM 5 receives one House account Annual Net OSA (NOSA) or Gross OSA (GOSA) direct or indirect Fee per additional a/c Received for each service $25,000 $17,000 $14,000 $5,000 Annual ISA Fee (per additional a/c) Received for each service $1,700 One off Application Fee $1,700 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. 3 Clears for other LME Exchange Members 4 Clears for Clients 5 Clears only for itself Page 4

5 ***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. Incentive s Firms that qualify for the following LME Incentive s will be eligible for 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 Copper, Aluminium and Zinc Liquidity Provider 10 August 2015 LME Clear Member Notice LME Clear Rules and Procedures: LME Member Notice 15/254 : A248 LME Member Notice 16/121: A117 Copper, Aluminium and Zinc New Market Participant 1 September 2015 LME Clear Member Notice LME Clear Rules and Procedures: LME Member Notice 15/254 : A248 LME Member Notice 16/121: A117 Nickel, Lead and Tin Nickel, Lead and Tin Liquidity Provider 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: All contracts Fees Application of the Fee CAP for LME position Transfers 23 August 2016 LME Member Notice 16/290 A284 Steel Scrap Market Making 3 January LME Member Notice 16/389 A:382 Page 5

6 and Steel Rebar 2017 MAF Contracts Fee Holiday 1 August 2017 LME Member Notice 17/213 Page 6