Pricing

To view pricing for each of our products, please see links below

If you have any inquiries related to billing please contact accountsreceivable@fia-tech.com

Atlantis

2019 Per Contract Fees

The 2019 per-contract settlement fee will remain unchanged at USD $0.01438 and applies to both executing and clearing sides of trades based on the number of Billable Contracts. Billable Contracts is the number of lots or contracts included in each trade processed in the system which matches an agreement and settles in each monthly processing cycle, with the following exceptions:

  • Trades which match agreements where either executing broker or clearing broker are not a participant in the system
  • Intrafirm give-ups (give-ups where the executing broker and clearing broker represent the same participant) do not have fees to either broker
  • 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:

  • Fees have an individual Contract Settlement Fee Cap for executing and clearing business separately
  • Each annual Contract Settlement Fee Cap corresponds exclusively to the respective settlement year (Jan -Dec) it was originated, regardless of what actual year it settles in. Contract Settlement Fee Caps are progressive and carry forward into later years until the Contract Settlement Fee Cap for the associated year is met. You can have multiple Contract Settlement Fee Caps in any given year depending on how far back the unsettled trades go.
    • For example, all billable contracts with trade dates from December 1, 2017, to November 30th, 2018 apply to the 2018 fee cap, regardless of what year they settle.
  • For clearing business, a Contract Settlement Fee Cap of USD $200,000 stays in effect and unchanged since 2017
  • For executing business, a Contract Settlement Fee Cap of USD $200,000 stays in effect and unchanged since 2017
  • There is a joint executing and clearing Contract Settlement Fee Cap of $350,000 per global participating firm per year ($400k for certain firms for 2019 only)

 

Performance Incentive Discount

Executing brokers will receive a discount on the per-contract fee based on their monthly and year-to-date match and settlement percentages to encourage the use of electronic rate schedules and clean settlement. Only Executing Brokers can receive a Performance Incentive Discount of 25% off the per-contract fee in each month where the match rate is above 95% and the settlement percentage is above 90%. An added discount of 25% will be extended in a given month if the year to date average is also above those thresholds.

 

Introductory Pricing

To encourage broader adoption by executing brokers, introducing brokers and order passing brokers, executing brokers with less than a six-month trailing average of 50,000 Billable Contracts per month are not subject to fees until they exceed the minimum average volume threshold.

 

Additional Payment Terms Specific to Atlantis

  • Firms with large enough volumes which exceeded the annual Contract Settlement Fee Cap and project to exceed the cap in the next year receive invoices annually in advance for their fees
  • All other firms receive invoices monthly in arrears for all billable contracts settled, and payments are due 30 days from receipt of invoice by each firm
  • Firms which are more than 90 days behind in payments are excluded from future settlement cycles until their account is current.

Atlantis Bulk Settlement Fees

FIA Tech offers a Bulk Settlement Service to help firms in clearing the rest of the aged, unsettled backlog in Atlantis.

Base pricing terms for performing bulk settlement beginning with the November 2019 Settlement Cycle:

  • Payer and Receiver receive charges of $0.01438 per lot up to each firm’s annual Contract Settlement Fee Cap
  • The Bulk Settlement Fees are part of the Maintenance and Bulk Settlement Fee Cap of $120,000 per calendar year for both clearing and executing brokers
  • The Responsible Party will pay an additional $0.005 per lot as determined by the Responsible Party Matrix up to the annual Bulk Settlement and Maintenance Fee Cap
  • The Responsible Party is determined at the point of the Bulk Settlement Template submission to FIA Tech. Any changes made to trades post submission are not considered for the Responsible Party fee calculation

For a limited time, we will offer special pricing terms for bulk settlement requests sent to FIA Tech between June 1, 2019 and 6pm EST Sept 30, 2019:

  • A reduced Bulk Settlement Fee of $0.005 per lot charges only to the Responsible Party determined by the Responsible Party Matrix

 

Atlantis Maintenance Fees

Pricing terms for Atlantis Maintenance Fees between October 2018 and September 2019 Settlement Cycles:

  • Maintenance Fee charges recur monthly until all applicable trades settle
  • The charges to the Responsible Party are $0.001 per lot for unsettled contracts older than 12 months and are not eligible for performance discounts
  • Maintenance Fees are part of the Maintenance and Bulk Settlement Fee Cap of $120,000 per calendar year and are separate from the annual Contract Settlement Fee Cap on Atlantis
  • The Maintenance and Bulk Settlement Fee Cap resets at the beginning of each calendar year

Pricing terms for Atlantis Maintenance Fees as of October 2019 Settlement Cycle:

  • Maintenance Fee charges recur monthly until all applicable trades settle
  • Maintenance Fees have three separate pricing tiers which are determined by age of unsettled, eligible to settle trades outstanding:
Time in Backlog Maintenance Fee Rate
0-6 Months $0.000 per lot
6-12 Months $0.001 per lot
12-18 Months $0.002 per lot
18+ months $0.003 per lot

  • Maintenance Fee charges for the 6-12-month tier are shown on invoices but waived until January 2020
  • Maintenance Fees will be charged to the Responsible Party determined by the Responsible Party Matrix up to the Maintenance and Bulk Settlement Fee Cap of $120,000 per calendar year

You can Download the Responsible Party Matrix here

Docs - Effective through June 30, 2019

The Docs pricing system consists of three components:

  • A per-agreement fee for each agreement executed in Docs.
  • A quarterly storage fee for maintaining all past executed agreements in the system.
  • Any Give In Limit Repository fees.

All institutions containing at least one broker party are required to have storage. 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. 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 or email agreements.

Per-Agreement Fee

Number of Agreements Executed Fee per Agreement*
0-25 $55.00
26-100 $70.00
101-250 $60.00
251-500 $50.00
501-750 $40.00
751-1,000 $35.00
1,001-2,000 $25.00
More than 2,000 $20.00

Pricing for Other Agreement Types

  • 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): There is a $20.00 fee 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.
  • Fast Path Amended Agreement: There is a $20.00 fee charged for any Fast Path Amendment. This functionality existed in EGUS only and not in the Docs platform.
  • Amended AgreementNormal 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 to each broker that is party to the agreement created as a result of a transition. Note that this fee is charged instead of other agreement fees, regardless of agreement type.

Storage Fees

Number of Agreements Stored Fee per Quarter*
0-50 $125.00
51-500 $325.00
501-1,000 $600.00
1,001-2,000 $1,000.00
2,001-5,000 $1,500.00
5,001-10,000 $4,000.00
10,001-20,000 $5,000.00
20,001-40,000 $6,000.00
40,001-60,000 $7,500.00
More than 60,000 $9,000.00

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) **
    • **Subscription to Clearing Broker User Interface is required

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 will be 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.

Docs - Effective starting July 01, 2019

The Docs pricing system consists of four components: 

  • 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 PerAgreement 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 

Number of Agreements Stored  Fee per Quarter 
0-50  $175.00 
51-500  $450.00 
501-1,000  $800.00 
1,001-2,000  $1,350.00 
2,001-5,000  $2,000.00 
5,001-10,000  $5,000.00 
10,001-20,000  $6,250.00 
20,001-40,000  $7,500.00 
40,001-60,000  $9,000.00 
More than 60,000  $11,000.00 
Non STP Agreement Upcharge   $1.25 per agreement 

 

 Per-Agreement Fee 

Number of Agreements Executed  Fee per Agreement 
0-500  $50.00 
501-1,000  $40.00
1,001-2,000  $30.00 
More than 2,000  $25.00 
Non STP Agreement Upcharge  $5.00 per agreement 

 

Pricing for Other Agreement Types 

  • 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 AgreementAmendments 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 party to the agreement created as a result of a transition.  

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, is an uploaded agreement other than CLSA, or contains any legal language changes to agreement text (with the exception to paragraph 10) will incur an upcharge to the PerAgreement Fee for execution and a quarterly upcharge to store the Non-STP Agreement.  

GiveIn 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. 


 

OCR

The OCR Data Service requires an annual subscription fee and a fee for onboarding if assistance is required. Refer to the table below for the complete OCR Data Service fee schedule. Contact FIA Tech to determine which fee tier applies to your firm.

Fee Tier Onboarding Fee (Payable at Onboarding) Annual Subscription Fee
FCM – Large $40,000 $40,000
FCM – Basic $40,000 $25,000
Non-FCM Clearing Member $25,000 $25,000
Swap Dealer Only $20,000 $20,000

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

OCR Subscription Tier Annual 3rd Party Data Provider Fee
FCM – Large $5,000 per year
FCM – Basic $3,500 per year
Swap Dealer Only $2,500 per year

Service period is annually based per calendar year from January, 01st – December, 31st

Additional Payment Terms

  • All fees and future renewals will be invoiced in annual terms in full prior to renewal
  • 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

eRECS

Tier I-II FCMs

  • $36,000 – Accounts Receivable only
  • $48,000 – Accounts Payable only
  • $84,000 – “Full Service” Reconciliation and Invoicing
  • 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)

Tier III FCMs

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

Additional Payment Terms

  • Service period is annually based per calendar year from January, 1st – December, 31st 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 license fees are subject to a 25% implementation fee per 90 project days

Databank

Service Annual Fees*
Position Limits Databank (PLD) Global Exchanges + MIFID II $25,000
EMEA Exchanges + MIFID II $15,000
Americas Exchanges $15,000
Asia Exchanges $15,000
Equity OptionsPosition Limits Databank (EOPLD) $6,625
Exchange Fees Databank (EFD) $19,480
Futures & Options Factbook $1,399
Global Spot Month Calendar $2,500

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

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)

MIFIID II Lockbox

$20,000 per year for firms not subscribing to FIA Tech’s OCR service.    

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.

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