ICAP Securities OTF Fee Structures and Incentives update

28 Sep 2018 00:00

ICAP Securities OTF Fee Structures and Incentives update

• A volume discount scheme has been added on Index Exchange For Physical (“Index EFP”) (Equity Derivatives, 1.23) and is effective from 1 October 2018 for a 6 month period, unless otherwise communicated.
• The methodology for the volume discount structures on the segment Index EFP is as follows;
o Participant eligibility and obligation
The scheme is open to all Participants that access the Fusion platform via FIX connectivity for trading purposes, i.e. not just post trade services.
o Incentive Offered
A discount to the current standard brokerage rate will be offered for the following month depending on notional volume traded in the current month, i.e. the current month's volume sets the potential discounted brokerage rate which will be applicable for the following calendar month. The thresholds are;

Example: Assuming a Participant trades between £4bn - £5bn in the current month, its brokerage rate for the next calendar month will reset to 0.2 bps. The notional of the trade will be converted to a sterling equivalent using the ICAP monthly brokerage conversion rate.

Please visit the ICAP Securities OTF venue page for more information.

Capitalised terms used in this Market Notice shall have the meaning ascribed to them in the ICAP Securities OTF Rulebook or Fee Structures and Incentives document.
Please direct any questions regarding this Market Notice to:

Email:

ICAP Securities OTF

Post:

ICAP Securities OTF
ICAP Securities Limited, 
2 Broadgate, London, 
EC2M 7UR,
United Kingdom