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	2009 Charge	2010 Charge

Base Service Charge - Individual member - Run Off Participation only	£255	£225
Base Service Charge - Corporate member - Run Off Participation only	£570	£525

As you can see the base service charges have been reduced for 2010.

As from 2010 the guarantee/letter of credit holding charge has been reduced from £98 to £75 per issuer per type of document. However, there has been a small increase in the custodian charge for UK Securities and Unit Trusts from £48 to £50 per holding.

As in previous years, the charge will be based on members’ FAL position as at 1 January 2010.

You should have already received an indication from Market Services of the impact of their new charges based on your FAL position in 2009 but, of course, that position may have changed if you requested a Partial Release during the year.