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Self-Regulatory Organizations; LCH SA; Notice of Filing of Proposed Rule Change Relating to the LCH SA CDS Clear Trade Registration Fund
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Federal Register Documents published on or after 08/24/2025
The intention is to keep the total minimum amount contributed by clearing members to mutualized resources to 10M euros.
The TRF Contribution of a Clearing Member that is a TRF Initial Member will be equal to an amount of EUR 3,000,000.
There will be no impact of such measure on the calculation of the Clearing Member's TRF Contribution.
Clearing Members' contribution to the TRF is based on peak utilization over a specific period divided by all Non-Defaulting Clearing Members' TRF utilization.
In addition, Clearing Members must also provide a TRF Contribution, which is the product of a Clearing Member's TRF Allowance Amount and the Clearing Member's TRF Contribution Percentage (the TRF Contribution).