LCH.Clearnet is in a position to allow further reductions in clearing fees, from 1 January 2008.
The further reductions in its clearing fees will apply to trades executed on the London Stock Exchange SETS and SETSmm platforms, and for trades executed on virt-x, by an average of 25%.
This latest reduction will mean that, since the start of the fee reduction programme in November 2006, cash equity markets clearing fees in London have more than halved.
Precise details of the revised tariff model are being finalised and will be published in the near future.
Further reductions in clearing fees charged for trades executed on NYSE Euronext cash equity markets in Amsterdam, Brussels, Lisbon and Paris, and on London Stock Exchange DTS are subject to the completion of formalities and will be announced in the near future.
“I am delighted to announce these latest reductions in our equity clearing tariffs, further and clear evidence of our determination to drive fees downwards whilst maintaining high quality clearing services. The fee reduction programme is by no means complete; we expect to announce still more reductions in cash markets clearing fees as well as in other asset classes in due course,” says Roger Liddell, CEO, LCH.Clearnet Group.