CME to pass on Ice CDS administration charges
Clearing house to hike CDS index trade fees from July after Ice’s determinations committee takeover
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
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