Credit Default SwapClearing Fee

Fee schedule of JSCC

The fees JSCC will charge clearing participants based on “Rules on Fees for CDS Clearing Business” are as follows:

CDS

Types of Fees

Fee Rate

Clearing Fee for Index CDS JPY800 per JPY100million of the Notional Amount of each Clearing Contract* Clearing Fee applicable to the Clearing Participant designated with respect to reporting of Index CDS quotes shall be JPY700 per JPY100million of the Notional Amount.
* If the Underlying Transaction was executed before JSCC’s CDS Clearing Business launch (July 19, 2011), the Clearing Fee shall be JPY400 per JPY100mil of the Notional Amount.
* Index CDS Clearing Fees are subject to monthly cap of JPY40million and monthly floor of JPY100,000 per Clearing Participant.
Clearing Fee for Single Name CDS JPY4,800 per JPY100mil of the Notional Amount of each Clearing Contract* Clearing Fee applicable to the Clearing Participant designated with respect to reporting of Single Name CDS quotes shall be JPY4,200 per JPY100million of the Notional Amount.
* If the Underlying Transaction was executed before JSCC’s CDS Clearing Business launch (December 15, 2014), the Clearing Fee shall be JPY2,400 per JPY100million of the Notional Amount.
* Single Name CDS Clearing Fees are subject to monthly cap of JPY40million and monthly floor of JPY100,000 per Clearing Participant.
Compression Fee JPY600 per JPY100mil of Compressed Notional Amount
Ad Hoc Compression Fee JPY600 per JPY100mil of Compressed Notional Amount