Oslo Brs VPS Group announced that both Oslo Brs and VPS will introduce reductions in fees from 1 September.
For customers of Oslo Brs, the changes represent:
* A discount of 20% on trading fees for the 5 most heavily traded shares by volume.* A discount of 25% on trading fees for all transactions carried out through the Oslo Brs trading system where the same member firm/broker is both buyer and seller.* A reduction in fees for reporting “off exchange” transactions.
The five most traded shares listed on Oslo Brs in 2007 were StatoilHydro, Norsk Hydro, Yara, Telenor and REC. Most traded shares will normally be determined for a 6-12 months period, based on market activity the previous 6 months.
For customers of VPS, the changes represent:
* The fee charged for settlement of stock exchange trades drops from NOK 4 to NOK 3.20, equivalent to a reduction of 20%.
These decisions will cause a net reduction in annual revenue of about NOK 43 million for Oslo Brs VPS, based on figures for trading volume in 2007. Based on figures for trading volume for the first quarter of 2008, the new pricing would represent a reduction in revenue of about NOK 14 million in this quarter.
Oslo Brs and VPS merged in November 2007.