DDR Fee Schedule (CFTC) – v 22

DTCC Data Repository (U.S.) LLC Fee Schedule - Effective October 1, 2016

General Principles

This fee schedule shall apply until such time as the Board of DTCC Data Repository (U.S.) LLC (“DDR”) shall 

determine otherwise. This fee schedule supersedes any previously issued DDR fee schedules for reporting to the 

U.S. Commodity Futures Trading Commission (“CFTC”). Terms used but not defined herein shall have the 

meaning provided in the DDR Rulebook. There are two types of fees, Position Maintenance Fees and Account 

Management Fees, both will be discussed in detail below.

Position Maintenance Fees by Asset Class

Position maintenance fees will be imposed on a party who has signed a DDR user agreement (a “User”) based on 

the aggregate number of positions across all five asset classes open on any day during the month (“Position 

Maintenance Fees”). Except as otherwise set forth for cleared transactions below, DDR charges Position 

Maintenance Fees, monthly, as follows:

Foreign Exchange

Position Counts

Tier Beginning Ending Position Maintenance Fee

Tier 1 0 1,000 $0.70 

Tier 2 1,001 5,000 $0.60 

Tier 3 5,001 10,000 $0.50 

Tier 4 10,001 50,000 $0.40 

Tier 5 50,001 100,000 $0.30 

Tier 6 100,001 150,000 $0.20 

Tier 7 150,001 500,000 $0.10 

Tier 8 500,001 + $0.05 

Other Commodities

Position Counts

Tier Beginning Ending Position Maintenance Fee

Tier 1 0 100 $3.50 

Tier 2 101 1,000 $3.00 

Tier 3 1,001 5,000 $2.50 

Tier 4 5,001 10,000 $2.25 

Tier 5 10,001 20,000 $2.00 

Tier 6 20,001 + $0.00 

Credit , Equity and Interest Rates

Position Counts

Tier Beginning Ending Position Maintenance Fee

Tier 1 0 100 $3.50 

Tier 2 101 1,000 $3.00 

Tier 3 1,001 5,000 $2.50 

Tier 4 5,001 10,000 $2.25 

Tier 5 10,001 50,000 $2.00 

Tier 6 50,001 200,000 $1.25 

Tier 7 200,001 500,000 $0.40 

Tier 8 500,001 + $0.10 
DDR Fee Schedule (CFTC) – v 22

The following applies to Position Maintenance Fees (altogether, the “Position Application Rules”):

• There are no Position Maintenance Fees for less than five hundred (500) aggregate positions during any 

month;

• For a position count of five hundred (500) or more aggregate positions during any month, which shall be 

determined in the aggregate for entities within the same corporate family, the applicable Position 

Maintenance Fees by asset class shall apply; and

• Position Maintenance Fees shall be based on the position count during the month even if liquidated prior 

to month end. 

Examples of the calculation of monthly Position Maintenance Fees are set forth on Annex A, attached hereto.

Responsibility for Position Maintenance Fees is as follows:

1. for Cleared Positions, except as otherwise set forth below, the counterparty shall be responsible for Position 

Maintenance Fees. Effective January 1, 2017, a counterparty to a Cleared Position shall pay the applicable 

Position Maintenance Fees, in accordance with the tables above, less a 25% reduction. This reduction will 

be made after regular positions have been assessed for purposes of calculating tiered pricing. As used 

herein, “Cleared Position” means a position where a derivatives clearing organization, as such term is 

defined in the Commodity Exchange Act section 1(a)15 (a “Clearer”), is a counterparty; 

2. for a position submitted by a swap execution facility (“SEF”) or designated contract market (“DCM”), the 

User, who is not the SEF or DCM, for whom or on behalf of whom the trade is submitted shall be 

responsible for Position Maintenance Fees; and 

3. for all other positions submitted by, for or on behalf of a User where the submission specifies a reporting 

obligation value of CFTC, the User shall be responsible for Position Maintenance Fees.

Three (3) Year Commitment Incentive for Non-Clearer Users

Users who are not Clearers (a “Non-Clearer User”) have the option to elect to enter into a three (3) year 

commitment (the “Long Term Commitment”). By electing the Long Term Commitment, the applicable then 

current Position Maintenance Fees and Account Management Fee, as defined below (collectively, the “Subject 

Fees”), owed by the subject Non-Clearer User will be reduced by 10%, exclusive of tax, for a period of three (3) 

years following the election (the “Long Term Commitment Period”). If the Long Term Commitment is 

improperly terminated prior to the end of the applicable Long Term Commitment Period the Non-Clearer User 

shall be subject to an “Early Termination Fee” equal to: (a) the difference between the total amount of fees due 

after application of the Long Term Commitment incentive and the total amount of fees that would have been due 

during the applicable portion of the Long Term Commitment Period had no incentive been provided (“Total 

Incentive Provided”); plus (b) 5% of the Total Incentive Provided or $500.00, whichever is greater. To elect the 

Long Term Commitment, Non-Clearer Users should contact GTR_Billing@dtcc.com and, for specific billing 

inquires, Non-Clearer Users should contact GTRBillinginquiries@dtcc.com.

Late Fee

In the event all or any undisputed portion of a User’s invoice becomes ninety (90) days or more past due (the 

“Past Due Balance”), such User shall be subject to a late fee equal to 5% of the Past Due Balance (the “Late 

Fee”). The User will continue to be assessed the Late Fee on a monthly basis until the full amount of the Past Due 

Balance is paid.

Account Management Fee (Effective: January 1, 2017)

Beginning on January 1, 2017, all account holders, excluding regulators, will be charged an annual account 

management fee of $1,200.00 (“Account Management Fee”). Such Account Management Fee will be in addition 

to and not in place of all applicable Position Maintenance Fees and shall not serve to reduce in anyway the 

amount of such Position Maintenance Fees owed to DDR by the applicable account holder.
DDR Fee Schedule (CFTC) – v 22

Clearer Position Maintenance Fees (Effective: January 1, 2017)

Notwithstanding any provisions to the contrary contained herein, beginning on January 1, 2017, the Clearer,

1 in 

addition to the counterparty, shall be responsible for Position Maintenance Fees for Cleared Positions. The 

Clearer shall pay Position Maintenance Fees for Cleared Positions in accordance with the Position Application 

Rules and the tables set forth below:

Foreign Exchange

Position Counts

Tier Beginning Ending Position Maintenance Fee

Tier 1 0 1,000 $0.175

Tier 2 1,001 5,000 $0.15

Tier 3 5,001 10,000 $0.125

Tier 4 10,001 50,000 $0.10 

Tier 5 50,001 100,000 $0.075 

Tier 6 100,001 150,000 $0.05

Tier 7 150,001 500,000 $0.025

Tier 8 500,001 + $0.0125

Other Commodities

Position Counts

Tier Beginning Ending Position Maintenance Fee

Tier 1 0 100 $0.875 

Tier 2 101 1,000 $0.75 

Tier 3 1,001 5,000 $0.625 

Tier 4 5,001 10,000 $0.5625 

Tier 5 10,001 20,000 $0.50 

Tier 6 20,001 + $0.00 

Credit , Equity and Interest Rates

Position Counts

Tier Beginning Ending Position Maintenance Fee

Tier 1 0 100 $0.875

Tier 2 101 1,000 $0.75

Tier 3 1,001 5,000 $0.625

Tier 4 5,001 10,000 $0.5625 

Tier 5 10,001 50,000 $0.50 

Tier 6 50,001 200,000 $0.3125 

Tier 7 200,001 500,000 $0.10 

Tier 8 500,001 + $0.025

Three (3) Year Commitment Incentive for Clearers

Clearers have the option to elect to enter into the Long Term Commitment. By electing the Long Term 

Commitment, a Clearer shall receive a cap on Subject Fees, such that the maximum total amount of Subject Fees

that may be charged to such Clearer in any calendar year shall not exceed $750,000 for the Long Term 

Commitment Period. If the Long Term Commitment is improperly terminated prior to the end of the applicable 

Long Term Commitment Period the Clearer shall be subject to the Early Termination Fee. To elect the Long Term 

Commitment, Clearers should contact GTR_Billing@dtcc.com and, for specific billing inquires, Clearers should 

contact GTRBillinginquiries@dtcc.com.

 1 In the event a User holds an account that acts as both a Clearer and in an additional role, DDR shall have the right, in its sole and absolute 

discretion, to determine the applicable role for purposes of charging the User fees. Such a determination may result in the User being 

charged fee rates at the higher of the two roles.
DDR Fee Schedule (CFTC) – v 22

Annex A

Examples of calculation of monthly Position Maintenance Fees:

1. Monday--10,000 positions; Friday in the same month--9,500 of those positions are liquidated; the 

position count for determination of the Position Maintenance Fee shall be 10,000 for the month. 

 

2. In a given month, 200 positions in FX and 200 positions in Rates; no Position Maintenance Fee will 

be charged for any position (400 position count in the month is less than the 500 position count 

threshold per month). However, the Account Management Fee discussed below will apply.

3. In a given month, 300 positions in FX, 200 positions in Rates and 100 positions in Commodities; the 

monthly Position Maintenance Fee will be charged for each position based on charges for that asset 

class (600 positions in the month is more than the 500 position count threshold per month). 

Once the aggregate threshold of five hundred (500) or more positions is met, each of the positions are subject 

to Position Maintenance Fees based on the following three categories: 1) Foreign Exchange, 2) Other 

Commodities, and 3) Credit, Equities, and Interest Rates as applicable. Each category will apply the Position

Maintenance Fees applicable to the aggregate positions per position for each Tier as noted below. 

Example from #3 above: In a given month, three hundred (300) positions in FX, two hundred (200) 

positions in Rates and one hundred (100) positions in Commodities for a total aggregate of six hundred 

(600) positions; the monthly Position Maintenance Fee will be charged for each position based on the 

asset class fees— three hundred (300) FX at $0.70; two hundred (200) Rates at $3.00; one hundred (100) 

Commodities at $3.50.