SIX Securities Services clearing entity, SIX x-clear, has announced a new incentive program to encourage the transfer of new business from interoperable trading venues.
We are very pleased to announce this new achievable and sustainable incentive program, providing real value to our customers and the market,” says Tomas Kindler, Head of Clearing Relations at Six. “It emphasizes our long-term commitment to uncompromising service quality and wide market coverage through interoperability.
This new fee structure is aimed to be a strong incentive for new and existing clients, the group says, to consolidate their clearing needs with SIX x-clear Ltd across multiple exchanges and MTFs.
With this move, SIX Securities Services says it continues to underpin its commitment to interoperability and to pass on resulting cost reductions directly to its clients.
The incentive program applies to all flows from trading venues where a client currently does not use the clearing services of SIX x-clear. Clearing will be charged at CHF 0.01 per clearing transaction if the total current volume of a client exceeds 1.5 million clearing transactions per month. In all other cases CHF 0.025 per clearing transaction will be charged. This incentive program is valid with immediate effect and will expire at the end of 2012. It replaces any current incentive program.
(LB)