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

2018 Per Contract Fees

The 2018 per-contract settlement fee will remain unchanged at USD .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 within 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) are not charged fees to either broker
  • Zero Fees contracts are free for executing brokers if settled within the first three months of their trade month.  Executing brokers are not charged for trades that match and settle providing the executing broker affirms that zero fees are due to them or another party.

Fee Caps:

  • Fees have individual caps for executing and clearing business separately
  • For clearing business, a fee cap of USD 200,000 will be in effect
  • For executing business, a fee cap of USD 200,000 will be in effect
  • An overall cap on fees of USD 350,000 per firm per year
  • Maintenance fees and Bulk Settlement fees are capped at USD 120,000 per year.  This cap is separate from the annual cap on Atlantis trade settlement.
  • New for 2018: Billable contracts on the platform with trade dates through November 30th, 2017 apply to the 2017 fee cap. All billable contracts with trade dates from December 1, 2017, to November 30th, 2018 will apply to the 2018 fee cap

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. Executing brokers will be extended a discount of 25% off the per-contract fee in each month where the match rate is above 95%, and settlement percentage is above 90%.  An additional 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 an average of 50,000 Billable Contracts per month will not be subject to fees until they exceed the minimum average volume threshold.

Payment Terms

  • Firms which exceeded the 2017 volume cap and are projected to exceed the 2018 fee cap will be invoiced annually in advance for their 2018 fees.
  • All other firms will be invoiced 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 will be excluded from future settlement cycles until their account is current.
  • 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.

Atlantis Bulk Settlement Fees

A Bulk Settlement Service is offered by FIA Tech to help firms clear the remainder of unsettled backlog in Atlantis.

Cost structure for performing bulk settlement:

  • Payer and Receiver will both be charged $0.01438 per lot which should be factored into any settlement negotiations
  • Bulk Settlement Fees are part of the Maintenance and Bulk Settlement Fee Cap of $120,000 per year     

Atlantis Maintenance Fees

In order to allow for continued on-platform settlement attempts, trades will be retained in Atlantis until settled. Beginning in the October 2018 Settlement Cycle, a Maintenance Fee of $0.001 per lot will be charged to the Responsible Party for unsettled trades older than 1 year.

Cost structure for Maintenance Fees:

  • Firms will be charged the Maintenance Fee on a monthly basis
  • The Responsible Party will be charged $0.001 per lot for unsettled trades older than 1 year
  • Maintenance Fees are part of the Maintenance and Bulk Settlement Fee Cap of $120,000 per year

Docs (EGUS)

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.
  • A pdf rate schedule digitization assessment fee (Q2 2017).

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 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. 

 

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 amendment.  Charges for amendments follow the same rules as the Per-Agreement Fee for executing Standard Give-Up agreements.

Storage Fee

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

*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.  

 

PDF Rate Schedule Digitization Assessment Fee Included in Q2 Invoice

In 2016, FIA Tech began communicating with all firms using the EGUS system regarding a mandatory Digitization project aimed at converting PDF rate schedules into an electronic rate format (eRate).  The purpose of digitization is to help firms create a centralized rate schedule repository in Docs in order to improve and strengthen downstream brokerage settlement systems. Firms were encouraged to start the digitization process internally, but FIA Tech also partnered with eClerx to offer a cost effective and efficient way to assist with the conversion.

For those firms opting to digitize in-house, an original goal was set to have pdf rate schedule digitization completed by Q1 2017. After that, FIA Tech communicated that an assessment fee of $40 USD per executed standard give-up agreements with only a PDF rate schedule and no waiver would be assessed to the Executing Broker party on the agreement. The digitization completion date was subsequently extended to the end of Q2 2017 to give firms more time.

FIA Tech also identified exemptions to the assessment fees based on the following:

  • Executed, standard agreements with both PDF and electronic rate schedules
  • Agreements that have been awarded a Waiver by FIA Tech
  • Firms that have already made a best-effort to digitize their rate schedules, and 90% or more of their agreements have electronic rate schedules.  This percentage was set to allow for rate schedules that can’t yet be put into the eRate format.
  • Executing Brokers that have fewer than 20 executed, standard give-up agreements in Docs

At the end of Q2 2017, FIA Tech implemented the PDF Rate Schedule Digitization Assessment to all Executing Broker parties who have not already digitized their rates and who are not working with eClerx.  This assessment will be used towards the digitization process provided by eClerx on behalf of all parties on an agreement without eRates.

Please review our FAQs for answers to commonly asked questions about the digitization process and the assessment.  Firms can also email FIA Tech with further questions at: digitization@fia-tech.com

GLM Fees

Current GLM 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)

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

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 is applicable 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 .

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
  • 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

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)

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 2017 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
  • 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

Service Annual Fees
Position Limits Databank (PLD) Global Exchanges + MIFID II $25,000
Global Exchanges $20,000
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

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)
  • 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.

MIFIID II Lockbox

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

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.