CME to pass on Ice CDS administration charges

Clearing house to hike CDS index trade fees from July after Ice’s determinations committee takeover

dollars-fees

Ice Benchmark Administration (IBA) is to begin charging a fee on cleared credit derivatives index products once it assumes the role of secretary to the determinations committees – a cost at least one clearing house plans to pass on to members.

According to an advisory notice that CME sent to clearing member firms earlier this month, a new fee type labelled “IBA CD Fee” will be included in the monthly fee file for cleared credit default swap (CDS) indexes from July 1.

IBA, a subsidiary of Inter