EMIR Account Fees for EnClear, LME, LSE DM, NLX and Nodal Clearing Members

Following LCH.Clearnet Ltd’s (LCH.Clearnet) recognition as a CCP under EMIR on 12 June 2014, the EMIR Rulebook, which establishes omnibus segregated accounts (OSAs) and individual client segregated accounts (ISAs), came into effect.

EnClear, LME, LSE DM, NLX and Nodal Members should be aware that the LCH.Clearnet will be charging one off account opening fees for all new client accounts in addition to their existing default client (C) account.

Members will also be charged a maintenance fee for every client account, payable on the anniversary of the account opening (or on the anniversary of EMIR authorisation for existing accounts). This charge is for each year or part thereof.

One off set up fees will be charged at £1,000 per Net OSA, £3,000 per ISA and Gross OSA. Recurring maintenance fees will for the same amount. House accounts will not be charged maintenance fees.

Thus, for a member that has a house account and two Net OSAs (including the existing default client account), the member will be charged:

Year 1

Year 2 and ongoing

Set up fees for new accounts are charged in the month end invoice following set up. For accounts set up prior to the LCH.Clearnet authorisation under EMIR, fees will be charged in the June 2014 invoice.

The maintenance fees for all client accounts (OSAs and ISAs) will be charged in the month end invoice on the anniversary of the account opening (or June every year for existing accounts).

Should you have any questions regarding account fees, please contact your service representative.