Commission Delegated Regulation (EU) 2017/2154 of 22 September 2017 (Indirect Clearing Regulation), Saxo Bank A/S must give clients with access to exchange-traded futures or listed on European exchanges, the choice of how their trade positions are held in clearing.
Net Omnibus Indirect Account (NOIA)
Futures and Options are currently and by default cleared in a
Net Omnibus Indirect Account where clients’ margin collateral and positions are held with margin and positions of other indirect clients.
Please be informed that Saxo Bank A/S per default will clear European futures and ETOs on a NOIA structure unless clients request otherwise.
Gross Omnibus Indirect Account (GOIA)
The Indirect Clearing Regulation requires us to also offer clearing under a Gross Omnibus Indirect Account where clients’ positions are held in a segregated account at the European Central Counterparty (CCP).
Details of clearing arrangements and the risks associated with both NOIA and GOIA accounts are described
If clients choose to clear European futures and ETOs under GOIA, Saxo Bank A/S will charge the following setup, maintenance and usage fees:
- A one-off setup fee of EUR 1,500 per exchange
- A monthly maintenance fee (variable) per exchange
- EUR 25 per cash transfer into or out of a Gross Omnibus Indirect Account Note that Gross Omnibus Indirect Account structures require strict segregation and it is not possible to bundle transfers.
Please contact Saxo Bank A/S in case of questions.