Changes to safekeeping fees for financial clearing members As today, Nasdaq applies a security collateral fee for securities calculated in basis points annualized on market value. The fee level depends on the proportion of cash and securities on the custody account and the total market value of the securities collateral that is used to cover the total margin requirement. Actual fee levels can be found in the table below. The fee is charged on a monthly basis by aggregation of the daily fee calculation based on end of day security market value on the custody account, excluding any excess collateral. The fee is calculated using actual/360-day convention. On a daily basis, the total collateral market value is calculated per holding on the Custody Account in the collateral denominated currency. The amounts are then converted to EUR using the exchange rates for that day. Effective January 1st, 2024, Nasdaq Clearing will make changes according to the description below. New Tiered Model Tier New fee as of January 1st, 2023 Frequency ----------------------------------------------------------------- > EUR 250 million 10 bp* Monthly basis ----------------------------------------------------------------- < EUR 250 million 12 bp* Monthly basis ----------------------------------------------------------------- * A concentration safekeeping fee for clearing members with a cash to securities ratio below 10%. 0 concentration safekeeping fee and 0 bp fee for securities held by clients active in IRS OTC clearing. The fee list will be updated on the collateral management fee list webpage. Adjustment to Nasdaq Deposit Rate (NDR) for margin cash collateral contributions in EUR Effective January 1st, 2024, Nasdaq Clearing will change the spread in the NDR from 20bp to 22.5bp. The new NDR rate for margin cash collateral in EUR will be €STR -22.5 bp. Current rates can be found on the Nasdaq CMS Web. For further information, please contact Clearing & Collateral Management team Email: Clearing@nasdaq.com Phone +46 8 405 6880
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