Penalty Fees

The Reference Interest Rate

Oslo Clearings Reference Interest Rate is fixed on a monthly basis and is based on one month average NIBOR. The Reference Interest Rate for May 2012 is 1,95 pct.

Failed delivery management fee

The failed delivery fee consists of

  • NOK 100,- pr. failed delivery
  • (Reference Interest Rate + 100 BPS)/360 pr calendar day of the net outstanding market value of the failed delivery, however capped at NOK 4.000 pr calendar day.

 

Failed cash payments

If a member fails to provide cash the fee consists of:

  • NOK 500,- pr. failed delivery
  • (Reference Interest Rate + 1000 BPS)/360 pr calendar day, based on the aggregate value of the transaction.

 

Buy-in fee

Oslo Clearing will charge the defaulting clearing member a administration fee of NOK 1.500,- upon the submission of a Buy-In Notification, in addition for compensating potential losses incurred and expenses, as stated in the Appendix 7 of the Clearing Rulebook. For further information on penalties and other fees, see Appendix 5 of the the Clearing Rulebook.

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