How to Subscribe to CCP Risk Review
For a specified fee, organizations can purchase any of the survey modules that have already been produced and can commission new survey modules (subject to minimum demand requirements). All survey modules are accessible through this online platform.
In addition, for an annual fee of 20%, a purchaser will receive notifications of rule changes as they occur and updates to the relevant CCP survey questionnaire will be made available as quickly as possible.
Fees are broken out by which modules you want to access as well as the number of clearing services that a CCP has. Check out the price list for current fees and contact us to subscribe.
Fee Structure in detail:
The price list sets out the cost of the CCP Risk Review by CCP service and CCP Risk Review Module.
Where a CCP clears more than one type of product it may do so through different services. The general rule is that the CCP survey for each CCP service has the same price attached to it. There is one price for a Base Module (US$23,000) and one price for a Client Clearing Module (US$7,000).
Where a CCP has more than one clearing service, however, the pricing is more complex and is adjusted depending on whether those services have separate, or separate but overlapping, sets of rules. If the same CCP rules apply equally to each service or the differences in rules are relatively minor, there will be only one price for the CCP Risk Review for that CCP across all its services. In practice, however, a CCP’s rules will often apply differently to different services. In some cases, there are separate rulebooks for each service, but more commonly a single rulebook is used that applies some rules consistently across services and others on a service-by-service basis. Where these differences are not minor, a separate CCP survey is required for each such service and a separate charge is made for each separate CCP survey, although the price for each is reduced to reflect any content duplication.
Every purchaser’s first purchase of a CCP survey for a CCP will attract the full fixed price. Where there are multiple CCP surveys for a single CCP and a purchaser purchases a second or third CCP survey for a CCP, the price of the second or third CCP survey to be purchased will depend on the degree of overlap between the rules applicable to each CCP service. In some cases it may also depend upon which CCP survey has already been purchased (for example, rules applicable to exchange traded derivatives for different services may be more similar to each other than to rules applicable to OTC derivative services). The pricing for each CCP service described in the document linked above explains where this is the case.
This price list is subject to further revision.