Market Services Charges 2008

As a result of feedback received from members who remain with participations on run-off syndicates only, Market Services has carried out analysis of the activities covered by the base service charge and have been able to re-apportion these costs to more accurately reflect the usage of Market Services. It has therefore been possible to reduce the level of the following charges:

Charge	2007 charge	2006 charge
Base Service Charge – Individual member	£295	£315
Base Service Charge – Corporate member	£595	£640
Interavailable Recipient per Donor – Corporate/DCP	£150	£170
MSU Taxation – Active & Naturally open individual member	£85	£90
MSU Taxation – individual run-off member	£35	£46
MSU Taxation – Corporate member	£135	£145
MAPA Participation – active & naturally open	£100	£110
MAPA Participation – run-off only	£15	£20

Charge	2010 Charge	2011 Charge
Base Service Charge - Individual member - Non-Active Participation only	£225	£225
Base Service Charge - Corporate member - Non-Active Participation only	£525	£525

As you can see the base service charges have remained the same for 2011.

As from 2011 there has been a small inflationary increase in the custodian charge for UK Securities and Unit Trusts from £50 to £51 per holding.

As in previous years, the charge will be based on members’ FAL position as at 1 January 2011.

You should have already received an indication from Market Services of the impact of their new charges based on your FAL position in 2010 but, of course, that position may have changed if you requested a Partial Release during the year.

VAT will be levied at a rate of 20% for all charges levied in 2011, regardless of when the service was provided.