Nasdaq Clearing would like to make further clarification about the clearing
notice sent December 15, 2020.
Interest calculation cash collateral
There will not be any changes in the Nasdaq Deposit Rate ("NDR") interest
accrual. NDR and calculation methodology can be found in the CMS Web.
New security collateral fee
Tiered security collateral fee model for custody accounts in the Nasdaq
Derivatives Markets clearing service
End of day market Security collateral fee for Security collateral fee for
value of the custody accounts where custody accounts where cash
securities cash collateral collateral constitutes less
collateral in the constitutes 35% or more of than 35% of the total
custody account. Fee the total collateral value collateral value used to
will be charged for used to cover total margin cover total margin
all applicable tiers requirement requirement
--------------------------------------------------------------------------------
> EUR 350 million 9 bps 11 bps
--------------------------------------------------------------------------------
EUR 150 - 350 million 10 bps 12 bps
--------------------------------------------------------------------------------
< EUR 150 million 11 bps 13 bps
--------------------------------------------------------------------------------
The security collateral fee will be charged on a monthly basis by aggregation
of the daily fee calculation based on end of day security market value on the
custody account.
In addition, the description of how we calculate the security collateral fee
for the Nasdaq Commodities Market have been clarified in the fee list, but note
that no change in how we calculate this fee has been implemented at this time.
Fee list
The complete fee list with additional information can be found on Nasdaq
Clearing's website at,
https://www.nasdaq.com/solutions/nasdaq-clearing-collateral-management-fee-list
Please note that the new CMS fees will be applied from February 1, 2021.
For further information, please contact Nasdaq Clearing:
Telephone +46 8 405 68 80 or clearing@nasdaq.com© 2021 GlobeNewswire
