Euroclear Reduces The Sliding-Scale Tariff For STP Transactions On FundSettle

Euroclear Bank has reduced the sliding scale tariff for FundSettle, which automates and standardizes the straight through processing of offshore and domestic fund transactions. Beginning April 1, 2005, straight through processed transactions via FundSettle will cost between EUR 3 and

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Euroclear Bank has reduced the sliding-scale tariff for FundSettle, which automates and standardizes the straight-through processing of offshore and domestic fund transactions.

Beginning April 1, 2005, straight-through processed transactions via FundSettle will cost between EUR 3 and EUR 15 per order, which is 10 to 25% below current prices, depending on volumes, according to Euroclear.

“As Euroclear and the fund market continue to increase the level of automation in fund processing and asset servicing, we believe that our new price incentive will encourage even greater STP rates,” said Thierry Logier, director and head of Investment Fund Product Management at Euroclear SA/NV. “Large-volume clients pay an average fee of just EUR 5 per transaction for order routing and settlement. We believe the uniquely comprehensive, low-cost features of FundSettle will persuade more third-party distributors to outsource their fund processing to FundSettle.”

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