16 July 2018
Visit www.avoka.com

LCH.Clearnet slashes clearing costs

01 May 2009  |  8573 views  |  0 cash

LCH.Clearnet is to slash its fees by a third as it responds to the arrival of fresh competition inspired by an EU-mandated Code of Conduct for European clearing agreed last year.

The clearer says it will lower cash equity clearing fees for the NYSE Euronext, Bourse de Luxembourg, Equiduct and SmartPool markets by 30% from 1 July 2009.

The move comes just a day after LCH.Clearnet's US suitor DTCC walked out on a proposed transatlantic merger, leaving the way clear for a consortium-based cash bid next month.

The once-moribund European clearing business has been shaken up by the arrival of a new wave of pan-European exchange-based trading platforms and market pressure for fee reductions in cross-border clearing costs.

LCH.Clearnet says the latest fee cuts will equate to a 75% reduction in its prices since January 2007, and promises that more cuts are on the way.

Christophe Hémon, chief executive, LCH.Clearnet, says plans are in place to drive down the cost-base, enabling further fee reductions in the near future.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

DTCC calls off LCH.Clearnet merger

DTCC calls off LCH.Clearnet merger

29 April 2009  |  11249 views  |  0 comments
LCH.Clearnet recruits BarCap's Joe Reilly to lead SwapClear

LCH.Clearnet recruits BarCap's Joe Reilly to lead SwapClear

07 April 2009  |  11114 views  |  0 comments
LSE pulls out of LCH.Clearnet consortium

LSE pulls out of LCH.Clearnet consortium

13 March 2009  |  8681 views  |  0 comments
LCH.Clearnet to open New York office

LCH.Clearnet to open New York office

11 March 2009  |  7071 views  |  0 comments
LCH.Clearnet mulls buying out investors - FT

LCH.Clearnet mulls buying out investors - FT

05 March 2009  |  5898 views  |  0 comments
LCH.Clearnet to develop eurozone clearing house for credit default swaps

LCH.Clearnet to develop eurozone clearing house for credit default swaps

13 February 2009  |  11104 views  |  0 comments
Icap-led consortium preps counter-bid for LCH.Clearnet

Icap-led consortium preps counter-bid for LCH.Clearnet

02 February 2009  |  6698 views  |  0 comments
UBS to switch clearing to SIS X-Clear

UBS to switch clearing to SIS X-Clear

03 December 2008  |  8292 views  |  0 comments
Liffe to self-clear from Q1 next year

Liffe to self-clear from Q1 next year

31 October 2008  |  8594 views  |  0 comments
LCH.Clearnet eyes forex markets

LCH.Clearnet eyes forex markets

16 October 2008  |  10934 views  |  0 comments
LSE pursues competitive clearing model

LSE pursues competitive clearing model

24 September 2008  |  9465 views  |  0 comments
LCH.Clearnet backs down on SIS x-clear access

LCH.Clearnet backs down on SIS x-clear access

10 March 2008  |  8325 views  |  0 comments
LCH.Clearnet wins Equiduct Trading clearing deal

LCH.Clearnet wins Equiduct Trading clearing deal

04 March 2008  |  6690 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9780 views comments | 18 tweets | 30 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8329 views comments | 3 tweets | 1 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8223 views comments | 13 tweets | 17 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7807 views comments | 7 tweets | 13 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
7706 views comments | 6 tweets | 14 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job