25 September 2017
visit www.avoka.com

LCH.Clearnet slashes clearing costs

01 May 2009  |  8449 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  |  11110 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  |  10998 views  |  0 comments
LSE pulls out of LCH.Clearnet consortium

LSE pulls out of LCH.Clearnet consortium

13 March 2009  |  8560 views  |  0 comments
LCH.Clearnet to open New York office

LCH.Clearnet to open New York office

11 March 2009  |  6885 views  |  0 comments
LCH.Clearnet mulls buying out investors - FT

LCH.Clearnet mulls buying out investors - FT

05 March 2009  |  5784 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  |  10963 views  |  0 comments
Icap-led consortium preps counter-bid for LCH.Clearnet

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

02 February 2009  |  6620 views  |  0 comments
UBS to switch clearing to SIS X-Clear

UBS to switch clearing to SIS X-Clear

03 December 2008  |  8153 views  |  0 comments
Liffe to self-clear from Q1 next year

Liffe to self-clear from Q1 next year

31 October 2008  |  8465 views  |  0 comments
LCH.Clearnet eyes forex markets

LCH.Clearnet eyes forex markets

16 October 2008  |  10812 views  |  0 comments
LSE pursues competitive clearing model

LSE pursues competitive clearing model

24 September 2008  |  9295 views  |  0 comments
LCH.Clearnet backs down on SIS x-clear access

LCH.Clearnet backs down on SIS x-clear access

10 March 2008  |  8155 views  |  0 comments
LCH.Clearnet wins Equiduct Trading clearing deal

LCH.Clearnet wins Equiduct Trading clearing deal

04 March 2008  |  6513 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.ncr.comvisit www.capgemini.comvisit www.temenos.com

Top topics

Most viewed Most shared
AXA launches blockchain to cover late flight compensationAXA launches blockchain to cover late flig...
11500 views comments | 16 tweets | 30 linkedin
SBI Ripple Asia advances on South KoreaSBI Ripple Asia advances on South Korea
9125 views comments | 16 tweets | 1 linkedin
European Commission makes fintech a priority in supervisory shakeupEuropean Commission makes fintech a priori...
8603 views comments | 34 tweets | 46 linkedin
hands typing furiouslyBlockchain is a new way of thinking?
7240 views 2 | 10 tweets | 1 linkedin
Sophia the humanoid gets UBS conference speaking gigSophia the humanoid gets UBS conference sp...
7010 views comments | 16 tweets | 19 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job