LCH.Clearnet Limited will be reducing its clearing fees for contracts executed on London Metal Exchange by an average of 15 percent with effect from 1 Jan 2008.
In general, LCH.Clearnet has been engaged upon a rigorous programme, commenced in November 2006, of clearing fee reduction across its business segment. Reductions to date have encompassed cash markets, financial and equity derivatives markets, and energy markets. The reductions announced today are the first for trades executed on London Metal Exchange, the world’s premier non-ferrous metals market, and mean that clearing fee reductions have now been or are being brought into effect for the full range of exchange markets cleared by LCH.Clearnet.
Precise details of the revised tariff are being finalised and will be published in the near future.
“I am very pleased to see this extension of our clearing fee reduction programme encompassing business executed by our members on London Metal Exchange, the final exchange market cleared by LCH.Clearnet to benefit from the programme,” says Roger Liddell, group chief executive at LCH.Clearnet. “But this is by no means the end of our fee reduction programme; we are determined to continue our drive to lower clearing fees for our members whilst maintaining high quality clearing services, and we will be announcing further cuts in other asset classes in the near future.”