Following the withdrawal of Nasdaq Clearing Commodity service, Nasdaq Clearing is adjusting its Collateral Management Service fee schedule. This change is harmonizing the fees between currencies, both for collateral posted for initial margin as well as collateral posted to the default fund.
As today, Nasdaq applies a security collateral fee for securities calculated in basis points annualized on market value. The fee level depends on the proportion of cash and securities on the custody account and the total market value of the securities collateral that is used to cover the total margin requirement. Updated fee levels can be found in the table below. The fee is charged monthly by aggregation of the daily fee calculation based on end-of-day security market value used to cover margin requirement. The fee is calculated using actual/360-day convention. On a daily basis, the total collateral market value is calculated per holding on the Custody Account in the collateral denominated currency. The amounts are then converted to EUR using the exchange rates for that day.
Effective May 1, 2026, Nasdaq Clearing will make changes according to the description below (current spread/fee level shown in parentheses).
- Cash collateral posted to the default fund will be charged a flat spread of 10 bps independent of currency (0-25 bps, currency depending).
- Safekeeping fee for securities posted as collateral up to the default fund requirement will be charged 12 bps (10 bps).
- Cash collateral posted for Initial Margin will be charged a flat spread of 32 bps independent of currency (30-50 bps, currency depending).
Securities held by clients participating in IRS OTC clearing will remain exempt from the concentration safekeeping fee, and no basis point fee will be applied.
The fee list will be updated on the collateral management fee list webpage as of May 1st and fee changes reflected in the Collateral Safekeeping Fee reports as of May 4th, 2026.
Spread on cash collateral from 1st of May:
| Currency | EUR | SEK | DKK | NOK | USD | GBP |
| Reference rate | €STR | Swedish Central Bank Policy Rate | Certificate of Deposit Rate | Norwegian Repo Rate | FED Funds | SONIA |
| CMS spread (bp) | 32 | 32 | 32 | 32 | 32 | 32 |
| Default fund spread (bp) | 10 | 10 | 10 | 10 | 10 | 10 |
For further information, please contact
Clearing & Collateral Management team
Email: Clearing@nasdaq.com
Phone +46 8 405 6880