Deutsche Börse is introducing a new pricing model for equities trading from January 2005 when it will begin to break down fees for trading, clearing and settlement for customers transacting over the all-electronic Xetra platform.
Under the new pricing model, clearing costs will be displayed separately from settlement costs, which should make it easier for users to make direct comparisons with the fees charged by rival exchanges.
Participants will see the clear benefits of netting out transactions in settlement, says the Exchange, while clearing charges will only be calculated on the basis of executed orders.
In a statement, the Börse says: "This pricing model makes it possible for participants to calculate not only the trading charge, but also the fees for clearing before an order is executed."
With the new pricing model, Deutsche Börse claims to be the lowest-priced provider of trading, clearing, and settlement in Europe.