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FIA Tech Brokerage Settlement System Fee Schedule

2017 Per Contract Fees

The 2017 per-contract settlement fee will remain unchanged at $.01438 USD and applies to both executing and clearing sides of trades based on the number of Billable Contracts.  Billable Contracts are the number of lots or contracts included in each trade processed in the system which matches to an agreement and is submitted for settlement within each monthly processing cycle, with the following exceptions:

  • Trades which match to agreements where either executing broker or clearing broker are not a participant on the system
  • Intrafirm give-ups (give-ups where the executing broker and clearing broker represent the same participant)
  • New for 2017, executing brokers will not be charged for trades that match and settle providing the executing broker affirms that zero fees are due to them or another party.

2017 Volume Caps:

  • Fees will be capped for executing and clearing business separately
  • For clearing business, a fee cap of $200,000 USD will be in effect
  • For executing business, a fee cap of $200,000 USD will be in effect
  • An overall cap on fees of $350,000 per firm per year

Performance Incentive Discount

Executing brokers will receive a discount on the per-contract fee based on their monthly and year-to-date match and settlement percentages to encourage the use of electronic rate schedules and clean settlement. Executing brokers will be extended a discount of 25% off the per-contract fee in each month where the match rate is above 95% and settlement percentage is above 90%.  An additional discount of 25% will be extended in a given month if the year to date average is also above those thresholds.

Introductory Pricing

To encourage broader adoption by executing brokers, introducing brokers and order passing brokers, executing brokers with less than 50,000 Billable Contracts per month will not be subject to fees until they exceed the minimum volume threshold.

Payment Terms

Firms which exceeded the 2016 volume cap and are projected to exceed the 2017 cap will be invoiced annually in advance for their 2017 fees.  All other firms will be invoiced monthly in arrears for all trades, and payments are due 30 days from receipt of invoice by each firm.  Firms which are more than 90 days behind in payments will be excluded from future settlement cycles until their account is current.

 

Brokerage Settlement Fee Schedule PDF

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