Trade Data Network

Pricing starting 2023

Sell Side Annual Subscription – Full Roles (Clearing & Executing Broker)

• Customers select a tier based on expected volume use and pay quarterly in arrears for the tier
• Customers will default to the Small Broker tier unless they formally elect otherwise
• Any overage charges incurred are charged quarterly
• Customers may upgrade to a higher tier at any time to reduce overage charges if desired.
  • Tier upgrades apply at the beginning of the subsequent quarter
  • Tier upgrades requested within 15 days of invoice will apply to current quarter
  • Tier downgrades apply at the first renewal term and then at the beginning of each following calendar year
• Current tier selection carries over each calendar year unless customer notices Company
• Minimum contract term of 1 year with auto renewal for additional 1 year terms unless customer cancels

Per Contract Overage Fees

Sell Side Annual Subscription – Executing Broker Role Only

• $10,000 annual subscription per client, first two clients free.
• Pro-rata annual billing for each new client for the remainder of the calendar year.
• Billing is quarterly.
• Minimum contract term of 1-year with auto renewal for additional 1-year terms.

Buy Side Pricing

• No fees for a buy side firm providing their trade data (allocations and/or confirmations) to TDN in 2023
• Use of TDN for Buyside is free during initial implementation phase.
• Once initial implementation is completed, fees are $0.01 per contract, up to a quarterly cap of $16,500 invoiced quarterly in arrears.

Atlantis Pricing

Per Contract Fees

The Per-Contract Settlement Fee is $0.015 and applies to both executing and clearing sides based on the number of Billable Contracts. Billable Contracts is the number of contracts included in each trade processed in the system and settles in each monthly processing cycle, with the following exceptions:

• Trades that match agreements where either executing broker or clearing broker are not a participant in the system
• Zero Fees contracts are free for executing brokers if settled within the first three months of their trade month and the trades are unadjusted. Executing brokers are not charged for trades that match and settle if the executing broker affirms that zero fees are due to them or another party.

Contract Settlement Fee Cap

• Settlement Caps are annual based on January – December settlement volume and reset each calendar year
• Fees still have an individual Contract Settlement Fee Cap “Settlement Cap” or “Settlement Caps” for executing and clearing business separately.
• For 2023 and 2024 Settlement Caps on Atlantis per global participating firm are: Clearing business, USD $230,000 and Executing business, USD $240,000

Introductory Pricing

To encourage broader platform adoption, customers who’s settlement volume in each asset class is less than the trailing six-month averages below are not subject to fees. The trailing average includes both clearing and executing settlement volume.

• ETD 50,000 contracts per month
• US Listed Options 30,000 contracts per month

Block Settlement

FIA Tech now offers the ability to settle Block Trade Settlement on Atlantis for ETD as of March 1, 2023 subject to submitting an Opt-In Form and the following specific pricing terms:

• The Settlement Cap is through the current yearend and resets each calendar year on an annual basis
• Bank Payers: For ETD Clearing business (CB), the Settlement Cap increases an additional $50k to enable Block Settlement. Per-contract settlement fee remains consistent with the rest of ETD at $0.015 per billable contract
• IDB Receivers: IDBs may opt to enable unlimited Blocks Settlement through the current yearend for a $150k separate standalone fee paid upfront
• Non-Bank Payers: Rolling out program for non-bank payers (corporates) which will be subject to a different pricing that is forthcoming

Docs Pricing

The Docs pricing system consists of four components:

• A Per Agreement Fee for each agreement executed in Docs
• A quarterly Storage Fee for supporting all past executed agreements in the system
• An upcharge applies to the Per-Agreement and Storage Fee for agreements that are not wholly electronic
• Give-In Limit Repository fees apply if subscribed to this service

Storage is required for all institutions that have at least one broker party. The Per-Agreement Fee is assessed to the conformed executing broker; however, if there is no conformed executing broker, then the conformed clearing broker will pay the Per-Agreement Fee. Institutions containing only customer/trader parties have the option of maintaining storage of Docs agreements at their respective tier rate. Customers/traders that choose not to store documents in Docs will have execution only access at absolutely no cost and will have seven days after execution to print agreements.

Storage Fees

Per-Agreement Fees

• The Standard Give-Up Agreement executed on Docs are charged $30 per agreement.
• There is a $5.00 upcharge for non-STP agreements.
• Uploaded Legacy Give-Up Agreements: Legacy uploaded agreements are charged the Per-Agreement Fee to the Institution that uploaded the agreement regardless of its role on the agreement. All institutions that wish to initiate agreements and/or upload Legacy agreements are required to have storage.
• Give-Up Screening Agreement (GUSA): The Per-Agreement Fee of the Institution is charged to both brokers that are party to the agreement.
• Customer Limit Screening Agreement (CLSA): There is a $20.00 fee charged to the broker that uploads this agreement.
• Amended Agreement: Amendments follow the same rules as the Per-Agreement Fee for executing Standard Give-Up Agreements.
• Transitioned Agreement: There is a $20.00 fee charged, regardless of agreement types, to each broker that is a party to the agreement created as a result of a transition.
  Transition Protocols:
  • 2018 GUA Transfer Protocol
  • 2023 GUA Regulatory Protocol

Non-STP Upcharge is on executed agreements that do not support straight-through processing. To promote more STP agreements across the industry, any executed agreement that has a non-conformed broker party, contains a PDF rate schedule absent an eRate, or is an uploaded agreement other than a CLSA will incur an upcharge to the Per–Agreement Fee for execution and a quarterly upcharge to store the Non-STP Agreement.

Please reach out to Docs.Support@fia-tech.com with any questions.

Give–In Limit Repository (GLR)

Current GLR Fees are posted below with all other fees, billing, and legal provisions of the Docs Service will remain unchanged, as specified in the Docs System User Agreement.

• Access to the User Interface as Executing Broker: Free of Charge
• Access to the User Interface as Clearing Broker: $.50 per executed agreement/quarter (or $2/year)
• Access to the API as Executing Broker: $1.25 per executed agreement/quarter (or $5/year)
• Access to the API as Clearing Broker: $1.25 per executed agreement/quarter (or $5/year) and requires a subscription to the Clearing Broker Interface

Implementation Fees:

• Email notifications: Free of Charge
• REST API: $2,500 per 60 calendar days work
• FIX API: $15,000 per 60 calendar days work

Implementation fees are invoiced upon execution of the GLR Opt-In agreement. FIA Tech will invoice System User for other fees quarterly in arrears based on the then-current number of executed agreements in the system multiplied by the relevant fee per contract.

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.

eRecs Pricing

Tier I-II FCMs

• $36,000 – Accounts Receivable only
• $48,000 – Accounts Payable only
• $84,000 – “Full Service” Reconciliation and Invoicing
• Firms with exceptional volume that require larger processing (e.g., 1 year of reconciled data for manual invoices, additional environments for staging/testing) can opt for a high-capacity AWS environment for $25,000 per calendar year.

Tier III FCMs

• $24,000 – Accounts Receivable only
• $32,000 – Accounts Payable only
• $56,000 – “Full Service” Reconciliation and Invoicing

Additional Payment Terms

• All license fees are subject to a 25% implementation fee per 90 project days
• Service period is annually based per calendar year from January, 1^st – December, 31^st prorated for initial year-end term.
• All fees and future renewals will be invoiced in annual terms in full prior to renewal
• Firms already in production will be invoiced annually in advance for their subscription fees. All other firms will be invoiced upon the execution of their service agreement
• Payments are due 30 days from receipt of invoice
• Firms 90 days past due are subject to suspension of their service and account access until their account is current

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.

FEE CALC

Tier I-II FCMs

• $36,000 – Small brokers & buy side
• $48,000 – Tier III FCMs
• $84,000 – Tier I-II FCMs
• Additional service charge for firms with exceptional volume requiring larger processing capacity (e.g., 1 year of reconciled data for manual invoices, additional environments for staging/testing)

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.

OCR Pricing

The OCR Data Service requires an annual subscription fee as shown in the following fee schedule plus a one-time fee for onboarding based on client-specific setup.  FIA Tech uses the following criteria to determine which fee tier applies to your firm.

• FCM – Large is greater than $2b in customer assets in seg as reported by the CFTC or equivalent regulatory entity
• FCM – Basic and Non- FCM Clearing Member tiers are for FCMs and Clearing Members with less than $2b in customer assets in seg as reported by the CFTC or equivalent regulatory entity
• Swap Dealer Only tier is for non-clearing swap dealers and firms who use OCR for their own reporting

FIA Tech’s OCR Service allows for Reporting Firms to acquire data from 3^rd party providers such as the Markit Counterparty Manager (MCPM).  Below are the additional fees per reporting firm for the use of these 3^rd Party Data Providers via FIA Tech’s OCR Service.

Additional Payment Terms

• The service period is annually per calendar year from January, 01st – December, 31st
• At signing each invoice is pro-rated through December, 31st of the current year, and all future renewals are invoiced in annual calendar terms in full prior to the renewal
• Onboarding fees are invoiced at the time of signing and cover the onboarding period until the client is in UAT
• Payments are due 30 days from receipt of their invoice
• Firms 90 days past due are subject to suspension of their account access until their account is current

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.

Databank Pricing

Enterprise pricing is available.  Contact sales@fia-tech.com to get started.

Effective Date: January 01, 2024

*Initial subscriptions auto-renew and annual fees increase by the greater of 3%, or the latest year-ending CPI for the calendar year published by the U.S. Bureau of Labor Statistics.

*FIA Tech, in its sole discretion, reserves the right to increase annual fees upon each renewal per the terms of each Agreement.

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.

MiFID II Lockbox

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.

Fees & Commissions Repository

FIA Tech offers the Fees & Commissions Repository(FCR) service under the contractual framework of the Docs Adherence Agreement and is subject to those terms and conditions.

To activate the FCR service, a Docs Participant Admin must complete and return the FCR Opt-in form to FIA Tech (by email).

*All pricing does not include any applicable Federal, State, or Local use taxes. Any tax obligations of non-US entities resulting from this service remain the sole responsibility of the customer to ensure they comply with their tax authority.