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Fees

Currently, Trading Members pay the following commission fees for centrally cleared trades in foreign currency executed at the Trading Session:

commission fee for the organization of trading charged by the Moscow Exchange as the organizer of trading;
commission fee for clearing services charged by National Clearing Centre (NCC) as the Clearing house.

Trading Members pay the fees in Russian rubles. The fees are debited by NCC during the process of settlement after the clearing session from accounts with cash posted by Trading Members for fulfillment of obligations to NCC, or being due to them after relevant obligations were discharged.

From 1 December 2018 the total amount of flat and volume-related commission fees:

- the total amount of flat and volume-related commission fees on spot transactions is divided:

42.5% - for clearing services (the size and calculation procedure of payment is approved by the Clearing Rules of the Central Counterparty "National Clearing Centre")
57.5% - for trading (the size and calculation procedure of payment approved by the Supervisory Board of Moscow Exchange on 31 July 2019 (Minutes No. 7))

- the total amount of volume-related commission fees for swap deals, swap contracts and deliverable futures contracts is divided:

52.08(3)%* - for clearing services (the size and calculation procedure of payment is approved by the Clearing Rules of the Central Counterparty "National Clearing Centre")
47.91(6)%* - for trading (the size and calculation procedure of payment approved by the Supervisory Board of Moscow Exchange on 31 July 2019 (Minutes No. 7)).

*periodic fraction

- the total amount of flat commission fees for swap deals, swap contracts and deliverable futures contracts has not been changed.

Starting from 1 January 2019 according to the fee package SPT_0 the minimum fee for trading services (service fee) is charged on a quarterly basis in the amount of RUB 60.000 (previously – monthly in the amount of RUB 20.000). The minimum fee for trading services (Service Fee) shall not be charged if

the sum of total volume-based trading fee and a total volume-based clearing fee paid by a Trading Member within a calendar quarter exceeds RUB 60.000;

Fee schedules for spot and swap trades are applied per the registration code of a Trading Member and all settlement accounts opened within this registration code. Applications to choose (change) the fee schedule are filed to the Clearing Centre not later than 5 (five) days before the beginning of the calendar month from which the relevant fee schedule is going to be applied.

From August 01, 2022 according to the resolution of the Supervisory Board of Moscow Exchange (June 20, 2022 (Minutes No. 2)):

the minimum fee for spot trades made under the order for < 50 lots for USDRUB and EURRUB currency pairs is changed to RUB 100, for other currency pairs the minimum fee remains RUB 50. The fee is valid during the main trading session or during the main trading opening auction (except for USDRUB_TMS and EURRUB_TMS) trades (TOD, TOM, SPT). If the size of the trade submitted by the Member is equal to or exceeds 50 lots, the fee is calculated as standard. The minimum fee of RUB 1 for takers remains, the minimum fee for makers is RUB 0,02;
an asymmetric fee for system spot trades is implemented: 0% for the maker and 0.0045% for the taker;
a symmetrical fee of 0.00225% was introduced for the opening auction, negotiated trades, fixed and weighted average rate (CBR rate) trades;
fees for trades with small amounts (TDS, TMS) were changed: for TMS system spot deals an asymmetric fee of 0% for the maker and 0.0750% (unchanged) for the taker is introduced, for TDS and TMS trades of negotiated board, a symmetrical fee of 0.00225% is introduced;
the fee for speedbump trades (SDBP mode), RFS (RFSM mode), G10 instruments with liquidity providers (OTCT and OTCF modes) is changed – 0.0030%;
the fee for OTC trades with the Central Bank (CPCL mode) is changed to 0.00225%;
part of the fee schedules in swaps has been canceled, currently three fee schedules are available (SWP_0, SWP_600, SWP_1000).