Notice to Members NTM2017-12


Date: March 15, 2017
Re: OneChicago Execution Fee Applied to CMTA Recipient Clearing Firm
Effective Date: April 3, 2017 (Reflected on May 2017 Billing Statement)

OneChicago, LLC (“OneChicago”) is issuing this Notice to Members (“NTM”) 2017-12 to inform market participants that OneChicago is amending its fee structure to apply OneChicago Execution Fees to the recipient clearing firm of a CMTA (Clearing Member Trade Assignment) trade. A CMTA involves an executing firm specifying the recipient clearing firm’s OCC clearing number on the order ticket for a trade that the executing firm desires to clear through the recipient clearing firm.

Currently, OneChicago applies its Execution Fees to the executing clearing firm, regardless whether the trade undergoes a CMTA to a recipient clearing firm or is cleared by the executing clearing firm. Beginning on April 3, 2017, OneChicago will begin assessing the OneChicago Execution Fees for trades that have undergone a CMTA to the recipient clearing firm, rather than the executing clearing firm. For trades with no CMTA, the executing clearing firm will continue to be billed. The purpose of this change is to simplify OneChicago’s billing process and bring the application of Exchange fees in line with market participants’ expectations. This change will be reflected on clearing firms’ May 2017 billing statement, which contains fees for the month of April 2017. More information on OneChicago’s Exchange fees can be found on OneChicago’s public website at www.onechicago.com.

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For questions regarding this NTM can be directed to operations@onechicago.com.