VOLUME 20 - BULLETIN #281

TO:	ALL CLEARING MEMBERS
FROM:	BUSINESS SYSTEMS GROUP
DATE:	September 27, 2000
SUBJECT:	New Customer Network Variable Fees

As a reminder, on Friday, September 1, 2000, the new Customer Network variable fee of $.015 per transaction with a monthly cap of $2,500 took effect. Clearing Members will see the variable fee charge on their September Clearing invoices.

Transactions, defined as all matched and unmatched transactions, were chosen as the best available proxy for usage of the network. As technology improves, the Clearing Corporation anticipates changing the basis of measurement.

The variable fee was set at a rate to allow recovery of BOTCC’s costs, and the monthly cap was set at a level to prevent excessive charges for network usage. The Clearing Corporation desires to recover no more than its costs in maintaining the new network.

Should you have any questions, please call or e-mail one of the following Business Systems Analysts: