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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 2910
Service Circular No:LCH EnClear No 342
Date:18 July 2011
To:All LCH.Clearnet EnClear Members

Reductions in Clearing Fees for the OTC freight clearing service 

Members are advised that with immediate effect, from  Monday 18 July 2011, headline rates for the Cape Timecharter Swap (CTC) and Option (CTO) contracts will be reduced to $7 per lot, from current rates of $12 and $15 respectively.

Additionally, our tiered fee structure will be amended, to include further tiers and greater reductions, as set out below:

 Lots per monthReduction in fees
Tier 1>150015%
Tier 2>250030%
Tier 3>500040%
Tier 4>750050%
Tier 5>1000075%
Tier 6>1500085%
Tier 7>2000090%
Tier 8>2500095%

We will continue to inform you at the end of every month which accounts are due a rebate based on the reduced fees charged by LCH.Clearnet. These rebates are highlighted and reflected in your monthly invoice statements.

Details of all our fees can be found on our website at http://www.lchclearnet.com/freight/ffas/fees.asp.

If you have any questions, please do not hesitate to contact Isabella Kurek-Smith on +44 20 7426 7460 or isabella.kurek-smith@lchclearnet.com or Holly Shaw on +44 20 7426 7027 or holly.shaw@lchclearnet.com

Isabella Kurek-Smith
Director, Head of Energy and Freight Markets
Commercial Services