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Screenshot of a breaking news alert e-mail from Q2 2017
LCH.Clearnet is about to change the account fee terms SwapClear and ForexClear.
Effective May 1, 2016, SwapClear and ForexClear are moving to a semi-annual billing cycle for Asset Segregated and additional Client accounts. The existing annual account cost and account volume discount remains unchanged.
A semi-annual account fee will be charged for the six-month period beginning 1st January and 1st July. The fee is calculated on the basis of the number of live accounts of the relevant type on the SwapClear or ForexClear service on the last day of the previous period i.e. 31st December and 30th June.
Fees will be charged at the lower of the number of accounts multiplied by the banded annual cost per account or the capped cost per package.
Package discounts apply to each underlying Client (not clearing member) considering all accounts opened by the Client, across all Clearing Members per service. Once the client account cost is calculated it will be billed to the client’s respective clearing member/s.
For the full announcement from LCH, click here.