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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:

Ø  the Securities market and Deposits market;

Ø  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By default the abovementioned fee is withdrawn: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

EUR

CHF

EUR

CHF

January

0,1420534795

-

0,3607542129

0,7637188779

February

0,1206777601

-

0,3187151302

0,8320918672

March

0,1475086073

-

0,3497960926

0,7139122959

April

0,2288661468

-

0,4118071206

0,7559644085

May

0,3404448202

-

0,4118071206

0,8830196325

June

0,2952781309

-

0,3861316629

0,9683679328

July

0,2589846546

-

0,4183617194

0,8912485436

August

0,2118002643

-

0,3287948935

0,8739613574

September

0,1951479965

0,7499999448

0,2502617519

0,9828436103

October

0,1975708795

0,7579745030

0,2790574987

0,8340133936

November

0,2249862865

0,7872042632

0,1811734391

0,1811734391

December

0,2274065533

0,7861348950

0,1892274757

0,8207342172

Month

2018

 

EUR

CHF

 

 

January

0,2077478485

0,8196002297

 

 

February

0,2434200758

0,8460350947

 

 

March

0,2416859809

0,8671284210

 

 

April

0,2999995265

0,9113517062

 

 

May

0,3109549571

0,8768467462

 

 

June

0,2072288039

0,8787109312

 

 

July

0,1930905946

0,8434234095

 

 

August

0,1665291818

0,8565270918

 

 

September

0,1238914248

0,9324626203

 

 

October

0,2357026106

0,8971941444

 

 

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.