SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested

Registered Entity Identifier Code (optional): 14-043

Organization: Chicago Mercantile Exchange Inc. ("CME")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): September 9, 2014 Filing Description: Modifications to the Fee 

Schedule Applicable to CME SDR

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: 

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Official Product Name: 

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected: 

Rule Numbers: 
Tim Elliott

Executive Director and Associate General Counsel

Legal Department

September 9, 2014

VIA ELECTRONIC PORTAL

Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, DC 20581

RE: CFTC Regulation 40.6(a) Certification. Modifications to the CME SDR Fee Schedule.

CME SDR Submission No. 14-043

Dear Mr. Kirkpatrick:

The Swap Data Repository Division of Chicago Mercantile Exchange Inc. (“CME SDR” or “SDR”) hereby notifies the 

Commodity Futures Trading Commission (“CFTC” or “Commission”) that it plans to modify the fee schedule that 

applies to the business of CME’s swap data repository (“CME SDR Fee Schedule”). The modifications to the CME 

SDR Fee Schedule will become effective on October 1, 2014.

Exhibit 1 sets forth the CME SDR Fee Schedule. Modifications to the prior Fee Schedule appear below with 

additions underscored and deletions overstruck.

The CME SDR Chief Compliance Officer and the CME Group Legal Department collectively reviewed the 

requirements of the Commodity Exchange Act (“CEA” or “Act”) relating to the business of SDRs including applicable 

SDR core principles (“Core Principles”) in light of the proposed changes that are the subject of this submission. As a 

result of this review, CME identified that the changes described in this submission may have some bearing on SDR 

Core Principle 4 (“Additional Duties”) as discussed below:

• Registered SDRs are required to maintain sufficient financial resources as set forth in CFTC Regulation 

49.25. The modifications to the CME SDR Fee Schedule will modify fees for SDR services to replace the 

current fee schedule. CME believes that charging fees for its services is clearly aligned with the 

requirement to maintain sufficient financial resources.

• Registered SDRs shall adhere to CFTC requirements regarding fair and open access and the charging of 

any fees, dues or other similar type charges as detailed in CFTC Regulation 49.27. As set forth in Exhibit 

1, the proposed fee changes in CME SDR’s Fee Schedule include fees that are equitable and will be 

established in a non-discriminatory manner.

Further, the Fee Schedule will be fully disclosed and transparent to all market participants as it will be posted on a 

website available to the public.

The Exchange certifies that the modifications to the CME SDR Fee Schedule comply with the Act and regulations 

thereunder. There were no opposing views related to the modifications to the CME SDR Fee Schedule.

The Exchange certifies that this submission has been concurrently posted on the CME Group website at

http://www.cmegroup.com/market-regulation/rule-filings.html.

If you have any questions regarding this submission, please contact me at 312-466-7478 or via e-mail at 

tim.elliott@cmegroup.com. Please reference CME SDR Submission No. 14-043 in any related correspondence. 

Sincerely, 

/s/ Tim Elliott

Executive Director and Associate General Counsel

Attachment: Exhibit 1

20 South Wacker Drive, Chicago, Illinois 60606 T 312 466 7478 F 312 930 3323 tim.elliott@cmegroup.com cmegroup.com
EXHIBIT 1

CME SDR Services Fee Schedule

IRS, CDS & Commodities

Rates, Credit & 

Commodities

OTC FX

Who to Charge All Designated Reporting Counterparties

Minimum Monthly Fee (End 

User Only)

• $200 per asset class per month 

• Applies to parent entity Master Account of reporting 

counterparties 

• Unlimited inter-affiliate transactions

Covered by Minimum (End 

User Only)

25 alpha (bilateral) 

transactions per asset class 

per month

1,000 alpha (bilateral) 

transactions per FX asset 

class per month

Transactional Fee $20.00 per ticket (transaction) $1.50 per ticket (transaction)

Maintenance Fee No maintenance fees

Annual Fee Cap (End User

Only)

$250,000 per asset class per year

Annual Fee Cap 

(SEF/DCM/Service Provider)

$400,000 per asset class, or $1,000,000M for all (4) asset 

classes

Fee Waivers All cleared legs (beta and gamma) of the transaction are fee 

waived