European Multilateral Clearing Facility, the European Central Counterparty (CCP), introduces a 40% fee reduction for UK securities market effective 14 April.
EMCF cuts fees by 40% for trades cleared in UK securities as per 14 April 2009, bringing clearing fees to EURO 0.03 per trade. The move ensures EMCF will maintain price leadership in the European cash equities market. The clearing fee for other European equities, cleared by EMCF will be maintained at EURO 0.05.
EMCF has been the driving force in reducing fees in the post trading landscape within Europe. This strategy has established EMCF as the 2nd largest European cash equities CCP.
The strategic price reduction is introduced at a crucial moment for the European cash equities markets and will aid in consolidating the successes of the MTFs serviced by EMCF, says Jan Booij, CEO of EMCF. We firmly believe the strategic move ensures we deliver BATS, Chi-X and Nasdaq OMX Europe the most competitive offering available in the market.
Increasing competition, most notably in the UK segment, has triggered a competitive response from EMCF. We send a strong message to the trading and clearing community: We will continue our price reductions based upon volume growth and competitor pricing.
L.D.