LCH.Clearnet, a European central counterparty, has made reductions in clearing and current membership fees for continental cash markets, which will come into effect on 1 October.
The reductions follow those announced for London cash markets in February and constitute a further step in the extensive general group tariff restructuring program, which began in the latter part of 2006.
An average reduction of 35 percent will be applied to clearing and current membership fees on LCH.Clearnet.
In addition to the tariff cuts, LCH.Clearnet SA will introduce a harmonised and redesigned structure which will enable its members to benefit from a simplified and transparent tariff, whilst incentivising large volume providers, the counterparty said in a statement.
“In harmonising and reducing its tariffs, LCH.Clearnet SA demonstrates once again its determination to deliver value at competitive pricing levels and delivers a powerful and positive response to the strong market desire to see firm downward pressure on infrastructure costs,” says Christophe Hmon, chief executive of LCH.Clearnet SA.