Type:Notice
Citation:90 FR 16036
Reading Time:about 8 minutes
ICE Clear Credit LLC (ICC) has proposed a change to its fee schedule, introducing a Client Volume Incentive Program. This program provides discounts on fees for clients who have annual billed fees for credit default swaps (CDS) exceeding $1 million USD. The discount is tiered, with up to 90% off for fees exceeding $6.4 million USD. The plan encourages more clients to use ICC's clearing services without imposing competitive burdens.
Simple Explanation
ICE Clear Credit LLC is giving big discounts to people who do a lot of business with them. If you spend over $1 million trading with them in a year, you can get up to 90% off some fees, but smaller businesses might not get the same big discounts.