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| Originating department: | Commercial Services |
| Company Circular No: | LCH.Clearnet Ltd Circular No 2708 |
| Service Circular No: | LCH EnClear No 308 |
| Date: | 01 November 2010 |
| To: | All LCH EnClear Members |
Fee reductions for the EnClear OTC Clearing service for Freight
Dear Member
LCH.Clearnet is pleased to announce that from 1 November 2010, it will be reducing the clearing fees charged for FFA contracts.
The clearing fee for the Capesize Timecharter contract (CTC) will be reduced by 20% to $12/lot. All other headline rates will remain unchanged.
In addition, we will be introducing reduced tiered fee rates based upon total monthly volumes traded by individual accounts, across all freight contracts.
The tiers will be as follows:
| Incremental monthly client volumes | Discounts on headline rates |
| From 0-2499 lots | na |
| From 2500 - 4999 lots | 20% |
| From 5000- 7499 lots | 30% |
| From 7500 lots | 40% |
At the end of every month, LCH.Clearnet will inform each Member which of their accounts are due a rebate based on the volumes and associated reduced fees charged by LCH.Clearnet. These rebates will highlighted and reflected in the Member’s monthly invoice statements.
If you have any questions relating to this circular, or would like to view an example of the monthly spreadsheet detailing the rebates, please do not hesitate to contact me on +44 207 426 7460 or [email protected] or Holly Shaw on +44 207 426 7027 or [email protected]
Yours sincerely
Isabella Kurek-Smith
Director
Commercial Services