The Euroclear board of directors approved today a further 27 million in annualised tariff reductions at Euroclear Bank, adding to the 78 million implemented earlier this year.
Retroactive to 1st June, the new round of tariff cuts will apply to safekeeping fees for Eurobonds and German debt securities (Bunds).
This is the second tariff reduction for these securities this year. The 11 million in safekeeping fee cuts will also apply to Argentine and Greek debt securities.
In addition, the latest tariff reduction will save Euroclear Bank clients about 16 million in communication fees across all channels.
“Frequent tariff reductions have become a Euroclear hallmark,” says Frederic Hannequart, chairman of the board of Euroclear Bank. “Providing clients with value for money everyday is an important part of business priorities. Our programme includes both short-term deliverables through regular tariff reviews and longer-term client benefits through our platform consolidation and market-practice harmonisation initiatives’