Ltd Collateral Management

LTD Spreads / Fees on Collateral

Interest on collateral is based on daily collateral balances placed by members at LCH. Invoices are raised monthly and settlement occurs via PPS three days after the month end. If there is a currency bank holiday, settlement takes place on the next available business day.

Cash Collateral

Current Spreads

Currency Overnight index Cash Collateral Spread (bps)[1]
CDR[2] FCM LDR[3] LDR[4] RDR[5]
GBP SONIA 18 18 28 28
EUR €STR 37 37 40 40
USD FEDFUND 17 17 33 33
CAD CORRA     30  
CHF SARON     47  
AUD RBACOR     15  
DKK DKDR2T     30  
JPY MUTKCALM     30  
NOK NOWA     30  
SEK STIBOR     30  
SGD SIBCSFDR     12.5  
Effective Date 21/02/2025 21/02/2025 21/02/2025
 21/02/2025

[1]Total rate is benchmark index minus spread

[2]Client Deposit Rate (CDR): the rate at which LCH will pay or charge interest on a credit cash balance on SwapClear Client accounts, Listed Rates Client accounts and ForexClear Client accounts. (Only applies to cash balances in EUR,GBP,USD, all other currencies attract LDR).

[3]FCM London Deposit Rate (FCM LDR): the rate at which LCH will pay or charge interest on a credit balance on SwapClear and Listed Rates Client FCM accounts only. (Applies to cash balance in EUR,GBP,USD, all other currencies attract LDR).

[4]London Deposit Rate (LDR): the rate at which LCH will pay or charge interest on credit cash balances (excluding Default fund balances, SwapClear Client accounts for EUR,GBP,USD and RepoClear deposits and ForexClear Client accounts)

[5]RepoClear Deposit Rate (RDR): The rate at which LCH will pay or charge interest on credit cash balances on RepoClear accounts. (Only applies to cash balance in EUR,GBP,USD, all other currencies attract LDR).