Fee for recording collateral in FX

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 Securities market and Deposits market;
  • the Derivatives market.

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

By default the abovementioned fee is withdrawn: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

A 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.

The charge the abovementioned fee is executed in Russian rubles, on the basis of the reporting month results not later than the 25th of the following month. 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.

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

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

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      
November 0,2249862865 0,7872042632 0,1811734391 0,8593670564 0,2285498100 0,8577218466      
December 0,2274065533 0,7861348950 0,1892274757 0,8207342172 0,2678124639 0,8344482227      

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.

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 ClientServices@moex.com.