Sheltered Harbor charges Participation fees to:
(i) Banks, Credit Unions and Brokers based on the type of institution and the size of the institution, as defined by:
1. Number of US depository accounts and US banking assets for Participants which are banking firms
2. Client assets and number of clearing clients for Participants which are securities firms
3. Assets under management or plan assets under administration for Participants which are asset managers, transfer agents, or retirement plan recordkeepers
(ii) Industry Associations and Industry Service Participants
(iii) Participants which are Global Systemically Important Banks as defined by the Financial Stability Board
Participation Dues Structure Overview
For banks and credit unions, Participant fees are determined based on both Participants’ Total US Banking Assets and Participant’s Total US Deposit Accounts to more accurately reflect bank size. Below describes current fees applying at each level of Participant’s assets and accounts.
Annual Fee Assessment Schedule for Banks and Credit Unions
For securities firms, Participant fees are determined based on both Client Assets and the Number of Clearing Clients*. Below describes current fees applying at each level of Participant’s assets and accounts.
Annual Fee Assessment Schedule for Securities Firms
For Asset Managers, Transfer Agents and Recordkeepers, Participant Fees are determined based on AUM or Plan Assets. The schedule below describes current fees applying at each level of Participant's AUM or plan assets.
Annual Fee Schedule for Asset Managers, Transfer Agents, and Recordkeepers
Participants with both banking and brokerage operations pay only a single fee based on the larger of the banking or the brokerage fee calculation (except for G-SIBs which are assessed a flat fee of $50,000)
* Including discretionary and non-discretionary assets