Fee for collateral recording and return

Since 01.08.2017 the NCC, in addition to the existing fee for recording collateral in euros and in Swiss francs on the FX market and Precious metals market, charges the fee for recording individual clearing and the other collateral in euros and in Swiss francs for the following types of collateral:

Collateral for Stress (on all markets);
Default Fund (on all markets);
Assets, which form an asset pool;
Collateral on:

  • the FX Market and Precious metals market;
  • the Securities market and Deposits market;
  • the Derivatives market;
  • the Standardised Derivatives market.

Charge the abovementioned fee is stipulated by the Common Part of Clearing Rules of the NCC and by the NCC Tariffs.

Fee for Collateral recording

By default the abovementioned fee is withdrawn:

  Debit procedure
FX market and Precious metals market from the Settlement Account, under which collateral in EUR and in CHF is recorded
Securities market and Deposits market
Derivatives market
Default Fund from the Settlement Account for charging fees on the Securities market; in case if there is no such account, the fee will be charged from the main Settlement Account of the FX market
Collateral for Stress
Assets, which form an asset pool from the Settlement Account, which forms the part of the Asset Pool Trade Account

Clearing Member is entitled to change default settings on the FX, Securities and Derivatives markets through the provision to the NCC of the Request for choosing the Settlement Account for charging fees, in which a Clearing Member may indicate the Settlement Account on this market, under which the fee will be charged, not depending on the fact under which Settlement Account collateral in EUR and in CHF is recorded.

Attention: charge the fee for recording Collateral for Stress (on all markets), Default Fund contributions (on all markets) is possible only from the Settlement Account for the fees charging on the Securities market, and in case it there is no such account, the fee will be charged from the main Settlement Account of the FX market.

Fee for recording Collateral in foreign currency is charged in Russian rubles on the first workday of the calendar month following the reporting one. When recalculation the fee in Russian rubles starting from September 2017, NCC uses the foreign exchange rate, set by the Bank of Russia on the last workday of the reporting month. Till September 2017 NCC used for these purposes the foreign exchange rate, set by the Bank of Russia on the date when the relevant fee was charged.

For the calculation of the rate of the fee for recording individual clearing collateral and the "other collateral" type in the foreign currency the following method is used:

Currency Rate calculation*
EUR Rate of the European Central Bank (Deposit facility) on the last day of the month when service is provided (in % per annum) + (-0,6%) per annum
CHF Rate of the Swiss National Bank (SNB policy rate) on the last day of the month when service is provided (in % per annum) + (-0,5%) per annum

* In case if the ECB or SNB changes the rate in the middle of the month fee for recording individual clearing collateral or the "other collateral" type in the foreign currency will be calculated in accordance with the rates, set by the ECB and/or by the Swiss National Bank on the last day of the reporting month

Fee for recording collateral in precious metals is debited in Russian rubles on the basis of the calendar month not later than the 25th of the calendar month following the reporting one.

The size of the effective rate of the fee for recording collateral in precious metals is disclosed in this section of the Clearing House’s website also not later than the 25th of the following month.

According to changes in the Tariffs since 01.08.2019 NCC charges fee for recording collateral in precious metal (GLD).

Information on the size of the fee charged is reflected in the following reports, on each market:

for recording collateral in euros and in Swiss francs on the Securities market and Deposits market – in the Cash flow statement (CCX99) of the relevant market; on the FX market and Precious metals market – in addition to the CCX99 also in the Report on fees (CCX10);
for recording Default Fund Contributions and Collateral for Stress in euro and in Swiss francs – in the Cash flow statement (CCX99) of the Securities market.

Calculation of the effective rate of the fee for recording Collateral in foreign currency

Month 2022 2023 2024
EUR CHF GLD SLV EUR CHF GLD SLV EUR CHF GLD SLV
January 0.7000000000 1.2500000000 0.0865298999 0.1482002699 0 0 0.0702735171 0.9156626736 0 0 0.1047569300 0.9310671961
February 0.7000000000 1.2500000000 0.0815614944 0.0827744591 0 0 0.0563670586 0.9489592370 0 0 0.0999650378 0.9242416967
March 0.7000000000 1.2500000000 0.1135135669 0.0960566756 0 0 0.0642011240 0.8474116198 0 0 0.0951984069 0.9076774081
April 0.7000000000 1.2500000000 0.0921179226 0.1661612361 0 0 0.0535891755 0.9202581605 0 0 0.1207023792 0.9332832433
May 1.1000000000 1.2500000000 0.0891927111 0.2939613872 0 0 0.0478251110 0.9500514295 0 0 0.1305692659 0.8422759855
June 1.1000000000 0.7500000000 0.1074439938 0.3837055871 0 0 0.0323908681 0.9145633561 0 0 0.1387273216 0.9934801197
July 0.6000000000 0.7500000000 0.0667276355 0.4301860787 0 0 0.0461012736 0.8797292959 0 0 0.1374255622 2.7239401448
August 0.6000000000 0.7500000000 0.1079554840 0.5487174906 0 0 0.0947048129 0.8937967430 0 0 0.1419922660 1.7167715722
September 0 0 0.0947048129 0.8937967430 0 0 0.1041269136 0.9495118014 0 0 0.1460207328 1.5858301179
October 0 0 0.1057725993 0.6029764981 0 0 0.1015862833 0.9443527013        
November 0 0 0.1051787290 0.5912217357 0 0 0.1027266651 0.8941270756        
December 0 0 0.0698512050 0.6233159800 0 0 0.1029370859 0.9339153172        

Fee for Collateral return

in foreign currency (TRY):

 

Rate values for execution of Requests for collateral return / Standing Instructions to return collateral ( in currency units):

Month 2023 2024
TRY TRY TRY TRY
Мessages for transmission of payment instructions on the transfer of funds between non-credit organizations Мessages for transmission of payment instructions on the transfer of funds between credit institutions Мessages for transmission of payment instructions on the transfer of funds between non-credit organizations Мessages for transmission of payment instructions on the transfer of funds between credit institutions
January     3300 220
February     3300 220
March     3355 275
April     3355 275
May     3355 275
June     3355 275
July     3355 275
August     3355 275
September     3355 275
December 3300 220

The size of the effective rate, % per annum (including historical rate values, calculated by NCC on the FX market and Precious metals market for the period from December 2015 till July 2017):
For the December 2015 in respect of EUR – 0,0001361177%

Month 2016 2017 2018 2019
EUR CHF EUR CHF EUR CHF EUR CHF GLD
January 0,1420534795   0,3607542129 0,7637188779 0,2077478485 0,8196002297 0,2702944682 0,8251903899 -
February 0,1206777601   0,3187151302 0,8320918672 0,2434200758 0,8460350947 0,3507113453 0,7955697514 -
March 0,1475086073   0,3497960926 0,7139122959 0,2416859809 0,8671284210 0,4074840109 0,7719352045 -
April 0,2288661468   0,4118071206 0,7559644085 0,2999995265 0,9113517062 0,4021001178 0,7681107974 -
May 0,3404448202   0,4031618565 0,8830196325 0,3109549571 0,8768467462 0,4059184746 0,7669440754 -
June 0,2952781309   0,3861316629 0,9683679328 0,2072288039 0,8787109312 0,4280207426 0,7757521419 -
July 0,2589846546   0,4183617194 0,8912485436 0,1930905946 0,8434234095 0,4579994386 0,7706941291 -
August 0,2118002643   0,3287948935 0,8739613574 0,1665291818 0,8565270918 0,4217548164 0,7787901985 0,0009853834
September 0,1951479965 0,7499999448 0,2502617519 0,9828436103 0,1238914248 0,9324626203 0,4803589843 0,7767007538 0,0014995598
October 0,1975708795 0,7579745030 0,2790574987 0,8340133936 0,1238914248 0,9324626203 0,5986682895 0,7850162470 0,0014545477
November 0,2249862865 0,7872042632 0,1811734391 0,8593670564 0,2285498100 0,8577218466 0,6436924728 0,8808858827 0,0025610408
December 0,2274065533 0,7861348950 0,1892274757 0,8207342172 0,2678124639 0,8344482227 0,5621380533 0,8009099562 0,0257654268
Month 2020 2021
EUR CHF GLD EUR CHF GLD SLV
January 0.7000000000 1.2500000000 0.0529857006 0.7000000000 1.2500000000 0.0084626497  
February 0.7000000000 1.2500000000 0.0424213074 0.7000000000 1.2500000000 0.0719418136  
March 0.7000000000 1.2500000000 0.0396647144 0.7000000000 1.2500000000 0.0756905914  
April 0.7000000000 1.2500000000 0.0506614430 0.7000000000 1.2500000000 0.0794341459  
May 0.7000000000 1.2500000000 0.0511979271 0.7000000000 1.2500000000 0.0763890020 0.0275704336
June 0.7000000000 1.2500000000 0.0460513712 0.7000000000 1.2500000000 0.0808914264 0.1883319266
July 0.7000000000 1.2500000000 0.0222267260 0.7000000000 1.2500000000 0.0828838767 0.2387230533
August 0.7000000000 1.2500000000 0.0127390237 0.7000000000 1.2500000000 0.0850728839 0.2376013227
September 0.7000000000 1.2500000000 0.0197775978 0.7000000000 1.2500000000 0.0847594848 0.2361098715
October 0.7000000000 1.2500000000 0.0138072369 0.7000000000 1.2500000000 0.0908635983 0.2035814765
November 0.7000000000 1.2500000000 0.0215318708 0.7000000000 1.2500000000 0.1067250260 0.1995117503
December 0.7000000000 1.2500000000 0.0183077678 0.7000000000 1.2500000000 0.1011024044 0.1987132180

All your inquires please direct to your personal manager to the Clearing Members Interaction Division via the phone number: +7 (495) 363-32-32 or via the e-mail address Clients@moex.com.