VOLUME 22 – BULLETIN #017 BOTCC Fee Changes

On December 19, 2001, the Board of Governors of the Board Of Trade Clearing Corporation approved revisions to the fee schedule for clearing services. The fee changes listed below are effective January 1, 2002, and will be reflected on firms’ January invoices available in early February. GAINS and ATOM fee changes, which are effective January 1, 2002, will not be reflected on firms’ January invoices, but on their February invoices available in early March.

Fee changes effective February 1, 2002 are as follows: Clearing Fees for Give-Up Allocations, $.05 per clearance; trade Correction charges are $.01, $.05 and $.10 per contract for 1, 2, and 3 or more days late. For details on all fee increases for 2002, please click on the Price List link below.

• Network Fees: Firms monthly network connect fees are based on the bandwidth selected by the clearing member.

• ATOM Fees: The charge for ATOM processing has been raised from $1.00 to $1.50, per broker paid $10.00 or more. In addition, the charge for creating 1099 statements has been raised from $1.00 to $2.00 per set.

• GAINS Participation Fees: Firms will be charged $2.00 per firm on the net credit or debit amounts. Firms should reference GAINS report GNS00030 for detailed participant fees.

• GAINS Transaction Fee: Allocating firms will be charged $.01 per transaction claimed.

• Firm Division Fees: Firms will be charged $100.00 per month per firm division.

• Treasury Service Fees: There is a fee of $8.00 per transaction for a cash margin call or cash margin release, and a $20.00 fee per transaction for security delivery or a security release.

• Minimum Monthly Fee: Firms generating less than $1,000.00 in total fees will be assessed a charge to bring their total fees to $1,000.00 for the month.

• Billable Time Fee: Firms that request special assistance from clearing corporation staff will be charged $125.00 per hour.

• Disaster Recover Service Fee: For support of a third party network, firms are charged $125.00 per month. Testing a firm’s disaster recovery site will be assessed a charge of $125.00 per hour with a $500.00 minimum. An additional fee of $2,500.00 will be assessed in the event that a disaster is declared by a firm.

• Application Fees: Firms applying for clearing membership will be charged $5,000.00 per application.

• Delay of Final Clearing Charge: Firms requesting an extension of final processing will be charged $300.00 per occurrence.

• Electronic Shipping Certificate Charge: For firms issuing delivery notices, a $3.00 per invoice fee will be assessed.

• Information Charge: Requests from firms for special information are $.25 per page with a $50.00 minimum.

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