SIS SegaInterSettle – the Swiss ICSD and global custodian – is introducing a new fee schedule in January 2005 that it says will offer clients cost savings of up to 40% for securities settlement and administration services.
SIS says the new pricing policy is both transparent and based on the “user pays” principle, offering significant economies of scale to high volume users.
In October last year SIS cut its custody and transaction fees for foreign markets. The new fee structure, effective from 1 January 2005, will see custody fees for shares and bonds cut by up to 25%, and fees for cross-border transactions by up to 60%. SIS says the new fee model will benefit clients with high volumes of international business the most. The rebate models offered thus far will be merged in a single model.
“The new fee model will further enhance our price leadership and strengthen our position as An attractive partner for securities settlement,” says Robert Rickenbacher, CEO of SIS SegaInterSettle.