- Section membership and registration as a Clearing Member
- Contribution into the Contingency Fund
- Trading and Clearing Fees
- Clearing Fees
- FORTS Information and technical support service Fees
1. Section membership and registration as a Clearing Member
| |
Fee |
Amount, RUB,
including VAT |
| 1. |
Fee for registration as a General Clearing Member of the Derivatives Market (FORTS) |
5 000 000 |
| Fee for registration as a Special Clearing Member of Securities Section of the Derivatives Market (FORTS) |
3 000 000 |
| Fee for registration as a Special Clearing Member of Commodities Section of the Derivatives Market (FORTS) |
1 000 000 |
| Fee for registration as a Special Clearing Member of Money Section of the Derivatives Market (FORTS) |
100 000*
1 000 000** |
| Additional fee for registration as a General Clearing Member of the Derivatives Market (FORTS)*** |
250 000 |
| 2. |
Service fee of RTS Derivatives market, per quarter**** |
60 000 |
Order a change of registration fee
(including special conditions for the Members of MICEX Derivatives Market).
* This fee amount remains effective through December 31, 2011.
** This fee amount becomes effective on January 1, 2012.
*** This fee is established for Derivatives Market Members (FORTS Members) who are registered as a General Clearing Member in accordance with Clause 6.5 of Appendix 1 to the Derivatives Rules of OJSC RTS (minutes of the RTS’s Board of Directors meeting No. 11-16-2507 as of July 25, 2011), except when such registration procedure is carried out in connection with restructuring of a General Clearing Member, or in respect of a Derivatives Market Member (FORTS Member) who is an affiliate of a General Clearing Member whose registration is canceled, and except other cases determined by the Chief Executive Officer of OJSC RTS. The resolution on not charging the additional fee for registration as a General Clearing Member of the Derivatives Market FORTS is adopted on recommendation of the Derivatives Market Committee.
**** The fee:
- is applied to General Clearing members and Special Clearing Member on the stock derivatives market. It’s also applied to the Section’s participants that are in process of registration as one of the mentioned Clearing members;
- is paid starting from the moment when the Derivatives Committee takes a decision to accept an applicant as a member of any section of the Derivatives market;
- if the Derivatives Committee made a decision to accept an applicant as a member of any section of the Derivatives market after the 15th day of the second month of quarter then a half of the Fee amount should be paid;
- if the Derivatives Committee made a decision to accept an applicant as a member of any section of the Derivatives market after the 15th day of the third month of quarter then the Fee should not be paid;
- is paid in accordance with quarter’s results;
- if the amount of the exchange charge paid by the Clearing member within this quarter has exceeded the amount of the Fee, then the Fee should not be paid;
- if the amount of the exchange charge paid by the Clearing member within this quarter has been less than the amount of the Fee, then the Clearing member shall pay the difference between the Fee amount and the total of exchange charge paid for the given quarter;
- is paid either through debiting funds from the trading cash registers of Clearing member or through
2. Contribution into the Contingency Fund
| Name |
Minimum Fee |
| General Clearing member / RTS Standard |
10 000 000 RUB |
| Status of a Special Clearing member on the stock market / RTS Standard |
10 000 000 RUB |
| Status of a Special Clearing member on the money market |
1 000 000 RUB |
| Status of a Special Clearing member on the commodity market |
500 000 RUB |
| Clearing member on the derivatives market of OJSC "Mosenergoexchange" |
500 000 RUB |
| Clearing member on the derivatives market on OJSC "Saint Petersburg Exchange" |
500 000 RUB |
| Clearing member on the derivatives market on ÑJSC "Exchange of Saint-Petersburg" |
500 000 RUB |
The contribution is returned to the Clearing member when the membership is terminated.
3. Trading and Clearing Fees *
| Contract |
Fees per 1 contract for each side, rubles |
To buy
or sell
contract |
Scalper
trade** |
Registration
of bilateral
(off-system) trade |
Clearing fee/
settlement
arrangement |
| Deliverable futures |
| OAO "Uralsvyazinform" ordinary shares |
0.10 |
0.05 |
0.10 |
0.2 |
| OAO "Sberbank" ordinary shares |
0.50 |
0.25 |
0.50 |
1.00 |
| OAO "Sberbank" preferred shares |
0.25 |
0.125 |
0.25 |
0.50 |
| two-year federal loan bonds |
0.50 |
0.25 |
0.50 |
1.00 |
| four-year federal loan bonds |
0.50 |
0.25 |
0.50 |
1.00 |
| six-year federal loan bonds |
0.50 |
0.25 |
0.50 |
1.00 |
| OAO "Gazprom" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "LUKOIL" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "NK "Rosneft" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "Tatneft" ordinary shares |
0.50 |
0.25 |
0.50 |
1.00 |
| OAO "MTS" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "NOVATEK" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "Polyus Zoloto" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "Bank VTB" ordinary shares |
0.50 |
0.25 |
0.50 |
1.00 |
| OAO "RusHydro" ordinary shares |
0.50 |
0.25 |
0.50 |
1.00 |
| OAO "FSK EES" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OJSC Uralkali ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO "Severstal" ordinary shares |
2.00 |
1.00 |
2.00 |
4.00 |
| OAO AK "Transneft" preferred shares |
2.00 |
1.00 |
2.00 |
4.00 |
| OAO "Surgutneftegas" ordinary shares |
1.00 |
0.50 |
1.00 |
2.00 |
| ÎÀÎ "Surgutneftegas" preferred shares |
1.00 |
0.50 |
1.00 |
2.00 |
| OAO GMK "Norilsky Nickel" ordinary shares |
2.00 |
1.00 |
2.00 |
4.00 |
| sugar |
2.00 |
1.00 |
2.00 |
25.00 |
| Cash-settled futures |
| MosPrime overnight rate |
0.30 |
0.15 |
0.30 |
0.30 |
| MosPrime three-month rate |
0.30 |
0.15 |
0.30 |
0.30 |
| USD/RUB exchange rate (trade volume less then 30000 contracts) |
0.50 |
0.25 |
0.50 |
1.00 |
| USD/RUR exchange rate (trade volume equals 30000 contracts or more) |
0.50 |
0.25 |
0.15 |
1.00 |
| RTS Gas & Oil Index |
0.50 |
0.25 |
0.50 |
0.50 |
| RTS Telecom Index |
0.50 |
0.25 |
0.50 |
0.50 |
| RTS Consumer & Retail Index |
0.50 |
0.25 |
0.50 |
0.50 |
| EUR/RUB exchange rate |
1.00 |
0.50 |
1.00 |
1.00 |
| EUR/USD exchange rate |
1.00 |
0.50 |
1.00 |
1.00 |
| GBP /USD exchange rate |
1.00 |
0.50 |
1.00 |
1.00 |
| AUD/USD exchange rate |
1.00 |
0.50 |
1.00 |
1.00 |
| Urals oil |
1.00 |
0.50 |
1.00 |
1.00 |
| Brent oil |
1.00 |
0.50 |
1.00 |
1.00 |
| Sugar |
1.00 |
0.50 |
1.00 |
1.00 |
| Copper |
1.00 |
0.50 |
1.00 |
1.00 |
| Gold |
1.00 |
0.50 |
1.00 |
1.00 |
| Silver |
2.00 |
1.00 |
2.00 |
2.00 |
| Platinum |
2.00 |
1.00 |
2.00 |
2.00 |
| Palladium |
2.00 |
1.00 |
2.00 |
2.00 |
| RTS Index |
2.00 |
1.00 |
2.00 |
2.00 |
| RTS Standard Index |
2.00 |
1.00 |
2.00 |
2.00 |
| Russian Volatility Index |
2.00 |
1.00 |
2.00 |
2.00 |
| MICEX Index |
3.00 |
1.50 |
3.00 |
3.00 |
| Futures-style options on futures: |
| USD/RUB exchange rate |
1.00 |
0.50 |
1.00 |
1.00 |
| EUR/USD exchange rate |
2.00 |
1.00 |
2.00 |
2.00 |
| OAO "Sberbank" ordinary shares |
1.00 |
0.50 |
1.00 |
1.00 |
| Gold |
2.00 |
1.00 |
2.00 |
2.00 |
| Brent oil |
2.00 |
1.00 |
2.00 |
2.00 |
| OAO "Gazprom" ordinary shares |
2.00 |
1.00 |
2.00 |
2.00 |
| OAO "LUKOIL" ordinary shares |
2.00 |
1.00 |
2.00 |
2.00 |
| OAO "NK "Rosneft" ordinary shares |
2.00 |
1.00 |
2.00 |
2.00 |
| OAO "Bank VTB" ordinary shares |
1.00 |
0.50 |
1.00 |
1.00 |
| OAO AK "Transneft" priviliged shares |
4.00 |
2.00 |
4.00 |
4.00 |
| OAO GMK "Norilsky Nickel" ordinary shares |
4.00 |
2.00 |
4.00 |
4.00 |
| OAO "Surgutneftegas" ordinary shares |
2.00 |
1.00 |
2.00 |
2.00 |
| Silver |
4.00 |
2.00 |
4.00 |
4.00 |
| Platinum |
4.00 |
2.00 |
4.00 |
4.00 |
| RTS Index |
4.00 |
2.00 |
4.00 |
4.00 |
| RTS Standard |
4.00 |
2.00 |
4.00 |
4.00 |
| MICEX Index |
6.00 |
3.00 |
6.00 |
6.00 |
* Full list of fees is available here: Fees of the derivatives market
**For the futures contracts these are indirect trades that lead to opening and closing of positions for a futures contract during one Trading day.
For options, scalper trades are indirect trades that can lead to opening an offset position in the underlying asset if an option is settled within one Trading day. Opening of a long position in a futures contract can be a result of buying a CALL option and selling a PUT option. A short position in a futures contract can be a result of selling of a CALL option and buying a PUT option. Scalper pairs for options (buying of an underlying – selling of an underlying):
- buy CALL sell CALL
- buy CALL buy PUT
- sell PUT buy PUT
- sell PUT sell CALL
"Request for quote" fee costs 1000 RUB per request and is to be paid by the Clearing member that has filed a request if at least one Specialist has submitted a two-side quote for this request.
Transaction fee:
- Transaction fee is determined every Trading day separately for each section of the clearing register for Transactions with respect to futures and options contracts.
- Transaction fee shall not be paid if the number of transactions made with indication of the clearing registers for which the given fee is determined, is less or equal to the corresponding threshold value (hereinafter referred to as "threshold"). The threshold is determined as equal to 2,000 transactions.
- Transaction fee shall be calculated as follows:
Fee = max(T-Round(F / K);0)*0,1,
where:
Fee – the amount the fee for the Transactions made within a Trading day;
T – the number of transactions made within a Trading day with indication of the clearing registers for which the given fee is determined;
F – the amount of the exchange charge to be paid for conclusion of a futures contract (in case a Transaction fee is determined with respect to futures) or an option contract (in case a Transaction fee is determined with respect to options), obligations for which are maintained on the clearing registers section, which determines the Transaction fee;
K – coefficient indicating the impact of the exchange charge amount on the Transaction fee amount (K = 0.03 for the clearing registers sector indicated in the agreement on fulfilling market maker’s obligations in options contracts; K=0.05 for other sections of clearing registers);
Round() – function of mathematical rounding.
4. Clearing Fees
| ¹ |
Fee |
Unit of
measure |
Amount |
| 1 |
Issue a reference on status and flow of funds on the cash or repo registers |
reference |
300 RUB |
| 2 |
Provide reports on electronic and paper medium by a Clearing member’s request |
file |
10 RUB |
| report |
300 RUB |
| 3 |
Open own or client’s section of the Clearing member’s clearing registers |
section |
120 RUB |
| 4 |
Maintain clients’ sections of clearing registers (except for position register), per month |
section |
120 RUB |
| 5 |
Compulsory positions close by Clearing center |
section |
5 exchange fees
established for the contract |
5. FORTS Information and technical support service
Fees, RUB, excluding VAT
| ¹ |
Service |
One-time |
Monthly |
| 1.1 |
FORTS Trading Workstation |
6 000 |
4 000 |
| 1.2 |
FORTS Trading Workstation, Plaza II |
4 000 |
4 000 |
| 2.1 |
FORTS Viewing/Client Workstation |
2 000 |
2 000 |
| 2.2 |
FORTS Viewing/Client Workstation, Plaza II |
2 000 |
2 000 |
| 3. |
FORTS Gateway |
6 000 |
2 000 |
| 3.1 |
Additional client login for FORTS Gateway |
|
1 000 |
| 4. |
FORTS Plaza II Gateway: |
|
Intermediate server |
| of RTS |
of a market
participant |
| 4.1 |
Main login (for a unit of productivity*) |
4 000 |
4 000 |
2 000 |
| 4.2 |
Viewing login |
2 000 |
2 000 |
1 000 |
| 4.3 |
Transaction login (for a unit of productivity *) |
2 000 |
2 000 |
1 000 |
| 5. |
FORTS FIX Gateway |
2 000 |
2 000 |
| 6. |
FORTS FAST Gateway |
2 000 |
2 000 |
| 7. |
FORTS intermediate server |
40 000 |
30 000 |
| 8. |
Data transmission services, access to FORTS |
| 8.1 |
Setting of the network equipment (router Cisco) |
6 000 |
|
| 8.2 |
Data transmission services via dedicated facility based on WAN technologies |
4 500 |
|
| 8.2.1 |
2 Mbite/s and less |
|
4500 |
| 8.2.2 |
5 Mbite/s |
|
8000 |
| 8.2.3 |
10 Mbite/s |
|
12000 |
| 8.2.4 |
20 Mbite/s |
|
20000 |
| 8.2.5 |
50 Mbite/s |
|
45000 |
| 8.2.6 |
100 Mbite/s and more |
|
90 000 |
| 8.3 |
Data transmission services based on LAN2LAN technologies |
4 500 |
|
| 8.3.1 |
2 Mbite/s and less |
|
15 000 |
| 8.3.2 |
5 Mbite/s |
|
25 000 |
| 8.3.3 |
10 Mbite/s |
|
45 000 |
| 8.3.4 |
20 Mbite/s |
|
80 000 |
| 8.3.5 |
50 Mbite/s |
|
140 000 |
| 8.3.6 |
100 Mbite/s and more |
|
220 000 |
| 9. |
Library of collateral calculation |
| 9.1. |
DLL Clients (Client version)** |
|
| |
- DLL Clients |
750 |
250 |
| |
- DLL Clients 20 |
1 500 |
500 |
| 9.2. |
DLL Firm (Firm version) |
|
| |
- DLL Firm 500 |
15 000 |
5 000 |
| |
- DLL Firm Unlimited |
30 000 |
12 000 |
| 9.3. |
DLL Specialist (Firm version, extended) |
200 000 |
12 000 |
*One unit of productivity is equal to 30 transactions a second.
** If the ordering party is not a FORTS market participant, then the fee for user maintenance services is charged for the whole year at once – 3,000 RUB.
For further information please contact:
- For agreement questions please contact Tatiana Tatarinova, Mariya Skivko at (495) 705-9031/32 ext.12150.
- For connection and software inquiries please contact RTS’s Technical support team at (495) 500-3848 and 733-9507.
