ON JANUARY 1st 2019, NASDAQ CLEARING WILL INTRODUCE THE FOLLOWING CHANGES TO CLEARING FEES FOR MARKET MAKERS:
As part of our planned launch of the new daily settled FRA contract - , Nasdaq Stibor™ 3M, - announced in exchange notice 7th of November 2018, Nasdaq will make the following updates to the clearing fee list:
Reduced registration fees:
- Registration base fee for clearing of Nasdaq Stibor™ 3M will be 0,75 SEK per million (previously 1 SEK)
- Registration base fee for the monthly settled Stibor™ FRA Forwards contract will be reduced to 0,029 basis points (previously 0,039 bp)
Changes to existing fee cap model:
- Introduction of fee cap model, covering Generic Rates Instruments and Short Term Rates Instruments*, with a maximum yearly fee of SEK 8 million
- The fee cap model will replace the current model of SEK 3 million, covering Generic Rates Instruments
When a clearing account has reached the maximum yearly fee, clearing of Generic Rates Instruments and Short Term Interest Rates Instruments will be free of charge for the remainder of the year.
The maximum fee is valid for one year (January 1st to December 31st) at a time and the level may be reviewed and amended when entering a new time period.
The changes are reflected in Appendix 3.A. Market Maker Fee List of the Rules and Regulations.
*Generic Rates Instruments are defined as Interest Rate Swaps and Overnight Index Swaps, and Short Term Rates Instruments are defined as Stibor™ FRA Forwards, Options on Stibor™ FRA Forwards and RIBA Futures
For further information concerning this exchange notice please contact: fixedincomesweden@nasdaq.com
Malin Bonsted, +46 8 405 60 00
Best Regards
Nasdaq Nordic Fixed Income, Nasdaq Stockholm