Cash Interest Rates and Non-Cash Collateral Fees

View interest rate for all cash currencies.

Cash Interest Pass-Through Program – FAQ document

CME Clearing charges fees on the below asset types that are posted to CME Clearing as collateral to meet Customer and House performance bond requirements.

CME Clearing charges a reduced fee rate of 10 basis points (annualized) for the following clearing members:

• Clearing members that are eligible to participate in CME Clearing’s committed credit facility (directly or through an affiliate) and do participate.*

• Clearing members that are not eligible, and do not have any affiliates that are eligible to participate in CME Clearing’s committed credit facility.

CME Clearing charges the full fee rate of 15 basis points (annualized) for clearing members that are eligible to participate in CME Clearing’s committed credit facility (directly or through an affiliate) and do not participate.

More information can be found here.

Non-cash collateral fees are based on post-haircut performance bond value. CME Clearing does not impose fees on collateral in excess of performance bond requirements or on collateral used to meet Guaranty Fund requirements.

Collateral fees are charged monthly and calculated based on daily balances.

Additionally, CME Clearing maintains a 30% soft U.S. dollar cash minimum requirement whereby clearing members that do not meet at least 30% of their U.S. dollar margin requirement in U.S. dollar cash will be charged an additional 10 basis points (annualized) on their collateral fees on top of the existing fee structure outlined above.

As an example, a clearing member who commits to CME Clearing’s credit facility, but does not meet the 30% U.S. dollar soft cash minimum would pay 20 basis points (i.e., 10 basis point reduced fee rate plus the 10 basis point additional fee) across all collateral subject to the additional collateral fee schedule.

The 30% soft U.S. dollar cash minimum and the 10 basis point additional fee will be calculated once each day, at the individual settlement account level,** using the clearing member’s end of day performance bond requirement denominated in U.S. dollars and closing balance of U.S. dollar cash on the following business day.  Only U.S. dollar cash held as performance bond will count towards the soft minimum. 

CME Clearing produces two daily reports for clearing members with the calculation details per settlement account. View report specifications.

The following asset types are subject to the additional collateral fees:

Find out more about our collateral fee changes in our FAQ and advisory notices.

*Eligible clearing members receive invitations to participate (directly or through an affiliate) in the committed credit facility during the renewal process. The participation amount must be a minimum of $100 million to receive the reduced fee rate.

**Settlement accounts are defined at the level at which CME Clearing settles collateral used to meet performance bond requirements for the customer segregated, cleared swaps customer and non-segregated (i.e., clearing member proprietary) account classes.

***The fees outlined above for London gold bullion and COMEX Gold Warrants are additive to transaction and/or storage fees charged to clearing members, which are passed through directly from our custodians.

For questions regarding the collateral fee schedule or the committed credit facility, please contact CreditRisk@cmegroup.com.

For questions regarding interest rates paid on cash, please contact ClearingHouseFinancial@cmegroup.com.