RITS Schedule of Fees
The fees in this schedule apply from 4 December 2023. All fees are exclusive of GST, which is applied at 10% and disclosed separately in Member invoices. Members are expected to pay RITS invoices by direct debit, unless otherwise agreed with the Bank. Members should complete a Direct Debit Request Form to set up or update their direct debit details.
1. Transaction Fees
Billing cycle: monthly in arrears.
| Type of Fee | Fee (exclusive of GST) | Paid by | |
|---|---|---|---|
|
Excludes RITS Low Value Settlement Service. [a] Excludes intraday, Open and Term RBA Repos. [b] Value Fees are not levied on NPP Payments. [c] |
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| RITS Volume Fee[a] | $0.57 per settlement | Payer and Receiver | |
| RITS Value Fee[b] | $0.16 per $1 million of total value settled per month (or part thereof) |
Payer and Receiver | |
| FSS Volume Fee[c] | $0.005 per settlement | Payer and Receiver | |
2. Fixed Fees
Billing cycle: annually in advance. Fixed fees are non-refundable and not pro-rated.
| Type of Fee | Fee (exclusive of GST) | Paid by |
|---|---|---|
| RITS Membership Fee | ||
| – Active ESA Holder | $6,000 per annum | Member |
| – Dormant ESA Holder[d] | $600 per annum | Member |
| – Batch Administrator (Non-ESA Holder) | $13,000 per annum | Member |
| Automated Information Facility (AIF) Fee | $900 per annum | Member using AIF |
|
Dormant ESA Holders do not settle any of their own transactions and hold an inactive ESA as a contingency arrangement. [d] |
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3. Late Payment Fees
The Bank does not automatically charge late payment fees, though it retains the right to do so in exceptional circumstances, at its discretion.
Late payment fees are calculated each day on the amount unpaid on each invoice after the respective payment due date. The interest rate used for late payment fees is the current RBA Cash Rate Target.
4. Special Requests for Information
There is a charge of $75 per hour for search and retrieval time (fees exclusive of GST).
5. Tokens
Hardware tokens used to access RITS are provided free of charge up to the recommended ratio of two tokens per active RITS user.
A Member seeking tokens in excess of the recommended level will be charged a fee of $200 (exclusive of GST) per surplus token.
A Member replacing a lost token will be charged $200 (exclusive of GST).
6. Connection to RITS
Access to RITS is via an ASX Net connection (provided by Austraclear, a wholly owned subsidiary of ASX Limited) or via an internet connection. For further information refer to the Requirements for Access to the RITS User Interface.
Connection to RITS via ASX Net Connection
The ASX Net connection is used for connectivity to both RITS and the Austraclear System. ASX Net connection fees are payable to ASX Limited and include installation and monthly fees.
Connection to RITS via Internet
There is no fee levied by the RBA for connection to RITS via the internet.