Last Update: November 21, 2016 Page 1

ICE Trade Vault Service and Pricing Schedule: 

Credit Asset Class

The following fee structure for ICE Trade Vault is applicable to the reporting of data in respect of swaps (as 

defined in the Dodd-Frank Act) (“Swaps”) in the Credit Asset Class to the ICE SDR Service:

 Repository Fees will be charged based on a published rate per quantity unit for each market type in 

the Credit Asset Class. The Repository Fee rates for the Credit Asset Class are set forth in Annex 

A.

 Repository Fees for the Credit Asset Class will be assessed upon acceptance of the initial trade 

record for a Swap by the SDR and will be charged as follows:

o Uncleared/Bilateral Swap or Uncleared/Bilateral Option1– A Repository Fee will be charged 

to each Participant that is a party to the Trade, except that only the party that is not the 

designated reporting party under CFTC Regulations will be charged in the case of a 

voluntary supplemental report (as such term is used in Part 45 of the CFTC Regulations); 

o On-Facility “Intended-To-Be-Cleared” (ITBC) Trades2– No Repository Fee will be charged 

to either Participant that is a party to an original (aka “alpha”) Swap or Option executed on a 

swap execution facility or designated contract market and submitted for clearing

contemporaneously with execution; and

o Clearing Swap or Clearing Option – A Repository Fee will be charged to the Derivatives 

Clearing Organization (“DCO”) that cleared the Swap or Option.

 Investment AdviserManager Participants3: Investment AdviserManager Participants reporting trades 

on behalf of the funds and client accounts they manage or advise will be charged as a single entity 

for all trade sides for which they are listed as adviser. The underlying funds and client accounts will 

not be charged a fee. The minimum and cap listed herein will be applied at the Asset/Investment 

Manager/Agent Participant level, inclusive of their own trades or any trades reported by them as an 

Agent.

 For all transactions reported by a Third Party Reporter, the Third Party Reporter will only be 

charged a Repository Fee for those transactions it reports on behalf of non-Participants of ICE 

Trade Vault Europe and will be charged in the following manner:

o If the Third Party Reporter is reporting only for one non-Participant, it will be charged the 

Repository Fee.

o If the Third Party Reporter is reporting for both the non-Participant for whom they are acting 

 

1

The references to Uncleared/Bilateral Swap and Uncleared/Bilateral Option include an original (aka “alpha”) Swap or Option that 

is not executed on a swap execution facility or designated contract market but is submitted for clearing following execution.

2

This term refers to trades that are (i) of a type accepted for clearing by a DCO and (ii) intended to be submitted for clearing 

contemporaneously with execution.

3

The term “Investment AdviserManager Participant” refers to a firm that provides investment advice to or otherwise acts as 

investment manager for third party accounts or funds for compensation.
Last Update: November 21, 2016 Page 2

as a Third Party Reporter for and their counterparty, it will be charged 1.5x the Repository 

Fee.

o The minimum and cap listed herein will be applied to each non-participant for which the 

Third Party Reporter is reporting.

 The minimum monthly invoice per Participant will be $375 across all asset classes. In a given 

month, each Participant shall be invoiced the greater of (i) the total of all Repository Fees incurred 

by Participant across all asset classes, or (ii) $375. The minimum monthly invoice only applies to 

Participants who have open positions in any asset class in the SDR. 

 The maximum monthly invoice (“Cap”) per Participant (other than Trusted Sources) will be $44,500 

across all asset classes, including Commodities, Credit, FX, and Interest Rates. In a given month, 

no fee will be due to ICE Trade Vault from a Participant (other than a Trusted Source) above this 

amount. 

 No rebates, share of profits, or dividends will be paid to any Participant or group of Participants.

 No additional fees will be assessed by ICE Trade Vault for storing trade data, processing life-cycle 

events, valuations, supporting upgrades, integrating and maintaining APIs, or help desk assistance. 

ICE Trade Vault will only assess fees as detailed above. All fees charged by ICE Trade Vault are 

uniform, equitable and non-discriminatory. 

 No fees will be assessed by ICE Trade Vault for the transfer of Swaps in the Credit Asset Class 

which were previously reported to another SDR. For the avoidance of doubt, any Swaps in the 

Credit Asset Class reported after the transfer date will be invoiced in accordance with this Fee 

Schedule.

 A Participant has 30 days from the date of invoice to reconcile and dispute any charges, after which 

the Participant will be deemed to have accepted all charges as correct.
Last Update: November 21, 2016 Page 3

Service and Pricing Schedule

Annex A: Repository Fees for the Credit Asset Class

Set forth below are the Repository Fee Rates to be applied upon acceptance of an initial trade record in 

respect of Swaps in the Credit Asset Class to the ICE SDR Service:

CREDIT ASSET CLASS

Repository Fee rates for the Credit Asset Class will be as follows:

Contract Type Cleared Swap Rate Cleared Option 

Rate

Single name corporate & sovereigns $1.13 per $1mm notional $1.13 per $1mm 

notional

Index $0.45 per $1mm notional $0.45 per $1mm 

notional

Contract Type Uncleared/Bilateral Swap 

Uncleared/Bilateral Option

Single name corporate & sovereigns $1.13 per $1mm notional $1.13 per $1mm 

notional

Index $0.45 per $1mm notional $0.45 per $1mm 

notional
Last Update: November 21, 2016 Page 4

ICE Trade Vault Service and Pricing Schedule:

Commodity, FX and Interest Rates Asset Classes

The following fee structure for ICE Trade Vault is applicable to the reporting of data in respect of swaps in 

the Commodity, FX and Interest Rates Asset Class to the ICE SDR Service:

 Repository Fees will be charged based on a published rate per quantity unit for each market type in 

the Commodity, FX and Interest Rates Asset Class. 

 The Repository Fee rates for the Commodity Asset Class are set forth in Annex B. The Repository 

Fee rates for the FX Asset Class are set forth in Annex C. The Repository Fee rates for the Interest 

Rates Asset Class are set forth in Annex D. Repository Fees for these asset classes will be 

assessed upon acceptance of the initial trade record for a Swap by the SDR and will be charged as 

follows:

o Uncleared/Bilateral Swap or Uncleared/Bilateral Option4– A Repository Fee will be charged 

to each Participant that is a party to the Trade, except that only the party that is not the 

designated reporting party under CFTC Regulations will be charged in the case of a 

voluntary supplemental report (as such term is used in Part 45 of the CFTC Regulations);

o On-Facility “Intended-To-Be-Cleared” (ITBC) Trades5– No Repository Fee will be charged 

to either Participant that is a party to an original (aka “alpha”) Swap or Option executed on a 

swap execution facility or designated contract market and submitted for clearing 

contemporaneously with execution;

o Clearing Swap or Clearing Option – A Repository Fee will be charged to the Derivatives 

Clearing Organization (“DCO”) that cleared the Swap or Option; and

o Exchange for Related Position (“EFRP”) – No Repository Fee will be charged to Participants 

that are a party to the EFRP.

 Investment AdviserManager Participants6: Investment AdviserManager Participants reporting trades 

on behalf of the funds and client accounts they manage or advise will be charged as a single entity 

for all trade sides for which they are listed as adviser. The underlying funds and client accounts will 

not be charged a fee. The minimum and cap listed herein will be applied at the Asset/Investment 

Manager/Agent Participant level, inclusive of their own trades or any trades reported by them as an 

Agent.

 For all transactions reported by a Third Party Reporter, the Third Party Reporter will only be 

charged a Repository Fee for those transactions it reports on behalf of non-Participants of ICE 

Trade Vault Europe and will be charged in the following manner:

o If the Third Party Reporter is reporting only for one non-Participant, it will be charged the

 

4

The references to Uncleared/Bilateral Swap and Uncleared/Bilateral Option include an original (aka “alpha”) Swap or Option that 

is not executed on a swap execution facility or designated contract market but is submitted for clearing following execution.

5

This term refers to trades that are (i) of a type accepted for clearing by a DCO and (ii) intended to be submitted for clearing 

contemporaneously with execution.

6

The term “Investment AdviserManager Participant” refers to a firm that provides investment advice to or otherwise acts as 

investment manager for third party accounts or funds for compensation.
Last Update: November 21, 2016 Page 5

Repository Fee.

o If the Third Party Reporter is reporting for both the non-Participant for whom they are acting 

as a Third Party Reporter for and their counterparty, it will be charged 1.5x the Repository 

Fee.

o The minimum and cap listed herein will be applied to each non-participant for which the 

Third Party Reporter is reporting.

 The minimum monthly invoice per Participant will be $375 across all asset classes. In a given 

month, each Participant shall be invoiced the greater of (i) the total of all Repository Fees incurred 

by Participant across all asset classes, or (ii) $375. The minimum monthly invoice only applies to 

Participants who have open positions in any asset class in the SDR. 

 The maximum monthly invoice (“Cap”) per Participant (other than Trusted Sources) will be $44,500 

across all asset classes, including Commodities, Credit, FX, and Interest Rates. In a given month, 

no fee will be due to ICE Trade Vault from a Participant (other than a Trusted Source) above this 

amount.

 No rebates, share of profits, or dividends will be paid to any Participant or group of Participants.

 No additional fees will be assessed by ICE Trade Vault for storing trade data, processing life-cycle 

events, valuations, supporting upgrades, integrating and maintaining APIs or help desk assistance. 

 ICE Trade Vault will only assess fees as detailed above. All fees charged by ICE Trade Vault are 

uniform, equitable and non-discriminatory and payments are due 30 calendar days from the invoice 

date.

 ICE Trade Vault invoices will be available by the 4th business day of each month via the web portal 

and it is the responsibility of each Participant to print and/or export the invoices for payment as the 

invoices will not be sent to Participants. An accounting contact should be maintained in the Contact 

page to receive notifications of ICE Trade Vault invoice availability. 

 A Participant has 30 days from the date of invoice to reconcile and dispute any charges, after which 

the Participant will be deemed to have accepted all charges as correct.

 No fees will be assessed by ICE Trade Vault for the transfer of Swaps in any asset class which 

were previously reported to another SDR. For the avoidance of doubt, any Swaps reported after the 

transfer date will be invoiced in accordance with this Fee Schedule.

 A Participant has 30 days from the date of invoice to reconcile and dispute any charges, after which 

the Participant will be deemed to have accepted all charges as correct.
Last Update: November 21, 2016 Page 6

Service and Pricing Schedule

Annex B: Repository Fees for the Commodity Asset Class

Set forth below are the Repository Fee Rates to be applied upon acceptance of an initial trade record in 

respect of Swaps in the Commodity Asset Class to the ICE SDR Service:

Uncleared/Bilateral Swap, Uncleared/Bilateral Option, Cleared Swap or Cleared Option:

Market Type Quantity Unit/Notional Unit

Rate when Contract 

Type = Swap or 

Forward

Rate when Contract 

Type = Option or 

Swaption

COMMODITY INDEX AUD $0.00000079 $0.0000012

COMMODITY INDEX CAD $0.00058 $0.00087

COMMODITY INDEX EUR $0.00078 $0.0012

COMMODITY INDEX GBP $0.00091 $0.0014

COMMODITY INDEX INDEX UNITLEVEL $0.00000011 $0.00000017

COMMODITY INDEX ETF UNIT $0.000028 $0.000042

COMMODITY INDEX JPY $0.0000000091 $0.000000014

COMMODITY INDEX USD $0.0000011 $0.0000017

CONTINENTAL 

FINANCIAL 

NATURAL GAS

KW $0.00001 .000015

CONTINENTAL 

FINANCIAL 

NATURAL GAS

MWH $0.00034 $0.00051

CONTINENTAL 

FINANCIAL 

NATURAL GAS

THERMS $0.00000034 $0.00000051

CONTINENTAL 

FINANCIAL POWER MWH $0.00062 $0.00093

CONTINENTAL 

PHYSICAL 

NATURAL GAS

MWH $0.00034 $0.00051

CONTINENTAL 

PHYSICAL POWER MWH $0.00062 $0.00093

EMISSIONS CALIFORNIA CARBON 

ALLOWANCES $0.00030 $0.00045

EMISSIONS CAR $0.00025 $0.00038

EMISSIONS CFI $0.00025 $0.00038

EMISSIONS CRE $0.00032 $0.00048

EMISSIONS

CROSS STATE AIR 

POLLUTION RULE TR NOX 

ANNUAL ALLOWANCE

$0.12 $0.18
Last Update: November 21, 2016 Page 7

EMISSIONS

CROSS STATE AIR 

POLLUTION RULE TR NOX 

OZONE SEASON TRADING 

PROGRAM ALLOWANCE

$0.12 $0.18

EMISSIONS

CROSS STATE AIR 

POLLUTION RULE TR SO2 

GROUP 1 ALLOWANCE

$0.024 $0.036

EMISSIONS

CROSS STATE AIR 

POLLUTION RULE TR SO2 

GROUP 2 ALLOWANCE

$0.024 $0.036

EMISSIONS CRT $0.00025 $0.00038

EMISSIONS ERU $0.00032 $0.00048

EMISSIONS EU ALLOWANCE $0.00032 $0.00048

EMISSIONS EU CREDIT $0.00032 $0.00048

EMISSIONS EUAA $0.00032 $0.00048

EMISSIONS MT $0.00025 $0.00038

EMISSIONS

MWH REPRESENTING 

CONNECTICUT CLASS 1 

RECS

$0.0020 $0.0030

EMISSIONS

MWH REPRESENTING 

MASSACHUSETTS CLASS 

1 RECS

$0.0020 $0.0030

EMISSIONS

MWH REPRESENTING 

NEW JERSEY CLASS 1 

RECS

$0.0010 $0.0015

EMISSIONS REGIONAL GREENHOUSE 

GAS INITIATIVE $0.00010 $0.00015

EMISSIONS SFI 0.0040 0.0060

EMISSIONS TON $0.00010 $0.00015

FINANCIAL 

AGRICULTURES BOARD FEET $0.00002 $0.00003

FINANCIAL 

AGRICULTURES BU 0.000053 0.000079

FINANCIAL 

AGRICULTURES CWT $0.00066 $0.0010

FINANCIAL 

AGRICULTURES KG $0.000015 $0.000022

FINANCIAL 

AGRICULTURES LBS $0.0000066 $0.0000098

FINANCIAL 

AGRICULTURES MT $0.015 $0.022

FINANCIAL 

AGRICULTURES ST $0.0026 $0.0039

FINANCIAL COAL MT $0.000072 $0.00011

FINANCIAL COAL ST $0.000072 $0.00011
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FINANCIAL 

NATURAL GAS MMBTU $0.000021 $0.000031

FINANCIAL 

NATURAL GAS 10,000 USD $0.000030 $0.000045

FINANCIAL 

NATURAL GAS BCF $0.000000000021 $0.000000000031

FINANCIAL 

NATURAL GAS MCF $0.000021 $0.000031

FINANCIAL 

NATURAL GAS GJ $0.000080 $0.00012

FINANCIAL 

NATURAL GAS 

LIQUIDS

BBL $0.00032 $0.00049

FINANCIAL 

NATURAL GAS 

LIQUIDS

GAL $0.0000077 $0.0000116

FINANCIAL 

NATURAL GAS 

LIQUIDS

LBS $0.0000013 $0.0000019

FINANCIAL 

NATURAL GAS 

LIQUIDS

MT $0.0028 $0.0042

FINANCIAL OIL BBL $0.00013 $0.00020

FINANCIAL OIL GAL $0.000003 $0.000005

FINANCIAL OIL KL $0.000021 $0.000032

FINANCIAL OIL L $0.000000021 $0.000000032

FINANCIAL OIL MT 0.0011 0.0016

FINANCIAL OIL CUBIC METERS $0.000892 $0.0014

FINANCIAL POWER MW $0.015 $0.023

FINANCIAL POWER MWH $0.00064 $0.00096

FINANCIAL POWER KW $0.000015 $0.000023

FREIGHT CHARTER DAY $0.48 $0.71

FREIGHT MT $0.00035 $0.00053

FREIGHT WORLDSCALE POINTS $0.00035 $0.00053

METALS DMT 0.0020 0.0030

METALS FTO $0.00013 $0.00020

METALS LBS $0.00000076 $0.0000011

METALS MT $0.0017 $0.0025

METALS ST $0.0019 $0.0028

METALS T/O $0.000000052 $0.000000078

PHYSICAL CRUDE 

OIL BBL $0.00013 $0.00020

PHYSICAL CRUDE 

OIL CUBIC METERS $0.00085 $0.001270013
Last Update: November 21, 2016 Page 9

PHYSICAL CRUDE 

OIL GAL $0.0000032 $0.0000048

PHYSICAL 

NATURAL GAS GJ $0.000080 $0.00012

PHYSICAL 

NATURAL GAS MMBTU $0.000021 $0.000031

PHYSICAL 

NATURAL GAS 

LIQUIDS

BBL $0.00032 $0.00049

PHYSICAL 

NATURAL GAS 

LIQUIDS

CUBIC METERS $0.0000032 $0.0000048

PHYSICAL 

NATURAL GAS 

LIQUIDS

GAL $0.0000077 $0.000012

PHYSICAL 

NATURAL GAS 

LIQUIDS

LBS $0.0000013 $0.0000019

PHYSICAL POWER MW $0.023 $0.015

PHYSICAL POWER MWH $0.00064 $0.00096

PHYSICAL REFINED 

PRODUCTS BBL $0.00013 $0.00020

PHYSICAL REFINED 

PRODUCTS GAL $0.0000032 $0.0000048

UK FINANCIAL 

NATURAL GAS THERMS $0.0000021 $0.0000031

UK FINANCIAL 

NATURAL GAS MMBTU $0.0000021 $0.0000031

UK FINANCIAL 

POWER MWH $0.00024 $0.00036

UK PHYSICAL 

NATURAL GAS THERMS $0.0000021 $0.0000031

UK PHYSICAL 

POWER MWH $0.00024 $0.00036

WEATHER INDEX POINT $0.016 $0.024

All EXOTIC – Per Trade Fee $16.00 $16.00
Last Update: November 21, 2016 Page 10

Annex C: Repository Fees for the FX Asset Class

Set forth below are the Repository Fee Rates to be applied upon acceptance of an initial trade record in 

respect of Swaps in the FX Asset Class to the ICE SDR Service:

Asset Class Quantity Unit/Notional Unit

Rate when Contract 

Type = Swap or 

Forward

Rate when Contract 

Type = Option or 

Swaption

FX BRL $0.00000014 $0.00000021

FX CAD $0.00000048 $0.000007300000072

FX CNY $0.00000014 $0.00000021

FX EUR $0.000000340000005 $0.00000500000075

FX GBP $0.0000002700000069 $0.00000040000001

FX USD $0.000004500000045 $0.000006800000068
Last Update: November 21, 2016 Page 11

Annex D: Repository Fees for the Interest Rates Asset Class

Set forth below are the Repository Fee Rates to be applied upon acceptance of an initial trade record in 

respect of Swaps in the Interest Rates Asset Class to the ICE SDR Service:

Asset Class Swaps rate Options/Swaptions Rate

Interest Rates (USD) $1.02 per $1mm notional $1.53 per $1mm notional

Interest Rates (Euros) $1.08 per €1mm notional $1.62 per €1mm notional

Interest Rates (Pounds) $1.49 per £1mm notional $2.24 per £1mm notional