Oslo Clearing has announced fee reductions and an incentive program for all new customers to their equity segment.
The new fee structure will provide competitive fee reductions in the equities clearing, harmonize the fee structure for general clearing members (GCM), direct clearing members (DCM) and non clearing members (NCM)) as well as simplifying the fee model.
In addition, Oslo Clearing announces an incentive program for new customers to Oslo Clearing. All new clearing members – DCM or GCM – to Oslo Clearing will be released from the fixed membership fee for both the remaining part of 2012 and for 2013 as long as they become a clearing member before the end of 2012.
We are pleased to announce a new, competitive structure for the clearing fees for equities trading on the Oslo Brs market places. The cost of clearing is one important element in the securities trading value chain in Norway and as a group Oslo Brs VPS is continuously committed to make our offer to the market participants attractive in order to strengthening our competitiveness, says Bente A. Landsnes, CEO and president of the Oslo Brs VPS Group.
The new fee structure will be implemented from May 1 2012 and includes the following elements:
– A new common clearing transaction fee structure for all types of clearing members
– A major decrease for the fixed fee per transaction to NOK 0.35 (before NOK 0.55 or higher)
– A harmonization of the basis point fee to 0.08 bps on the value traded (before from 0.065 bps to 0.16 bps)
– A reduction in the fixed membership fee element for DCMs and GCMs- An introduction of a fixed fee element for NCMs
As before, all customers can choose between the two types of the clearing transaction fee: A fixed fee per transaction or a variable basis point fee on the value traded.
(JDC)